http://www.bankofengland.co.uk/banknotes/pages/about/history.aspx
http://www-personal.umich.edu/~jbourj/images/money/smith122.jpeg
http://www.abnotes.co.uk/images/Banknotes/Britis1.jpg
http://www-personal.umich.edu/~jbourj/images/money/darwin12.jpg
Bank notes
originally started in the 1600s as a sort of 'cheque'. They were receipts
that a person would receive from a bank, issued by the Bank of England, which
represented an amount of gold or coins. The receipt could be given to any
specified 'bearer' and when handed into the bank they would be paid 'that sum
on demand', many included the words 'the bearer' after the name of the
depositor so that they could be circulated in a limited way.
Bank notes were originally entirely hand written on bank
paper by the Chief Cashier, then from 1725 bank notes were partly printed with
the £ sign, then the Chief Cashier would fill in the payees name, cashiers
name, date, number and the digits for the sum.
Since 1853, when bank notes began to be fully printed, the statement “I promise to pay the bearer on demand the sum
of…” has consistently been used in all bank notes since then.
Notes have always been apparent since the opening of the Bank of England, however there have been two crucial moments for the English note when its role was fundamental for keeping the country from plummeting; the Seven Sisters War and the First World War, when the Bank needed to keep its bullion safe so issued £1 notes in exchange for bank notes instead of gold or coinage. After WWI, in 1931 Britain left the gold standard which lead to the bank note issue becoming entirely fiduciary.
Notes have always been apparent since the opening of the Bank of England, however there have been two crucial moments for the English note when its role was fundamental for keeping the country from plummeting; the Seven Sisters War and the First World War, when the Bank needed to keep its bullion safe so issued £1 notes in exchange for bank notes instead of gold or coinage. After WWI, in 1931 Britain left the gold standard which lead to the bank note issue becoming entirely fiduciary.
The bank note has always been a useful way of circulating
money in a safer way; nowadays notes are a form of legal tender in Great
Britain, which is far more efficient than carrying gold coins around.
I've researched the evolution of the English Bank note and have analysed and compared them. I've noticed all the notes since the 19th century have certain qualities printed on them that are included in every one:
-Bank of England
-Reference number/code
-Year it was made
-'I promise to pay the bearer the sum of..'
-The sum written in full
-Chief Cashiers name/signature
-Mention London (the Bank of England location)
The more recent bank notes include the statement "London for the government and company of the Bank of England".
In my design I plan to include the majority of these elements, I will be choosing the ones that fit to a modern design.
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