BRITISH £5 NOTE

Press, Volume XC, Issue 27403, 16 July 1954, Page 6

BRITISH £5 NOTE

COMPLAINT ABOUT SIZE AND SHAPE (From the London Correspondent of ‘‘The Press") LONDON, June 28. Although it is backed with the majestic financial authority of the Bank of England which promises “to pay the bearer five pounds on demand,” no-one likes the English £5 note. It is not the money that its critics object to. It is the size and colour of the large Bin by sin note that makes it the most unpopular banknote in Britain. Mr J. Ellis, chairman of the Central Council of Bank Staff Associations, added the weight of his organisation to general complaints from retailers and the public about the unwieldy “fivers” this week when he suggested that the £5 note should l be trimmed. He said that bank clerks disliked British “fivers” as they were too large to handle in quantity, could not be piled neatly and were too large to fit into wallets or purses without being several times folded. “Millions of wage packets have to be made up each week, many for sums of £lO and £l2 and more if overtime is included,” said Mr Ellis. “In its present form the ‘fiver’ has to be folded at least three times to fit into the standard wage packet. It should be

trimmed to a size a shade bigger than the £1 note and given a distinctive colour.” First introduced in 1793, the “Musical fiver” with its distinctive crackle has always been outsize. It is white, printed with a black italic script, and like all Bank of England notes, has a metallic strip threaded through it to prevent it being split by counterfeiters. The “fiver” is generally looked on with disfavour by people lucky enough to handle it. Many retailers will not cash £5 notes because of the risk of forgeries while others insist that the bearer sign his name and address on the back of the note before they will cash it. As yet the Treasury has made no comment on the proposal to trim the £5 note. Now that the bank clerks have “revolted” over the note, critics hope that a modernised “fiver” will soon be issued.