BANK OF ENGLAND NOTES.

North Otago Times, 2 December 1911, Page 3 (Supplement)

BANK OF ENGLAND NOTES.

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The custom of endorsing English' banknotes, even when they pass in some trivial purchase, is a surprise to most Australians who go abroad for the first time, It is an old custom, and one which has led to many curious inscriptions on the notes, A debtor in prison wrote on the back of a ten pound note, "The first debt I have honestly paid for a year." while a prodigal son turned' the tables against himself when he wrote on a £2O note, "'The last of thousands left by my father, who slaved to earn them."

In 1759 the Bank of England began to issue £lO notes as well as £2O, till then exclusively used. It was not till thirty years after that £5 notes were brought out, and in 1797 there were £1 and £2 notes; but they ceased in 1821, owing to tho immense amount of forgery they led to. Hundreds, if not thousands, of persons, were_hanged for counterfeiting notes for such small sums. A curious banknote, designed by Hone, has prison chains across one end, is signed by Jack Ketch, a row of malefactors hanging with ropes around their necks appears on the face, and a series of criminals' heads on the other side, together with the words, "Until the resumption of cash payments or the abolition of the punishment by death." The "£" which in the corner usually preceded the amount and value of the note was formed of ropes. From April 5, 1829, the £5 note has been the lowest procurable from the Bank of England. Of late the desirability of once more issuing the £1 note has been discussed. In 1827 a £I,OOO note was the highest; but £50,000 notes have been issued, and there is a story of a certain tradesman keeping such a one by him as a curiosity, while a gentleman framed one, which his executors promptly cashed at his death, There is a family tradition about the visit of a certain church functionary ,at n house when some-disputed'point had to be settled by reference to the Bible, and the one belonging to the deceased mother was brought down from the shelf, dusty, and unused, but within was found a note for £40,000. The Bank of England note of today has taken some time and many inventions to bring it to its present condition. The numbering machine was first employed In 1809, steelplate engraving was supplanted by .the siderographic machine, and that by the electrotype surface printing. The great aim is to prevent forgery, the paper employed being unique, and the watermark and private marks are all in favour of the banker.