united kingdom treasury notes

7/30/2019 United Kingdom Treasury Notes

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UNITED KINGDOM TREASURY NOTES

Up until the First World War, gold sovereigns and half sovereigns had circulated aseveryday currency for nearly a century. Following the 1833 Bank Charter Act, Bank of

England notes were legal tender in England and Wales only for amounts of 5 and above.

On 5th August 1914 (the day after war was declared), the Currency and Bank Notes Actwas passed which allowed the treasury (not the Bank of England!) to issue currency notes

of 1 and 10/-. these notes had full legal tender status and were convertible for gold

through the Bank of England.

BRADBURYThe first notes were produced to a hurried design and, because of the lack of availabilityof banknote paper, were printed on paper produced for postage stamps. The 1 note was

issued on Friday August 7th and the 10/- a week later. These are known as the first

Bradbury issue after the Permanent Secretary to the treasury, Sir John Bradbury. John

Bradbury was born in 1872 and entered the Civil Service in 1896, first in the ColonialOffice and then the treasury. After serving under Asquith and then Lloyd George,Bradbury was appointed one of two permanent secretaries to the treasury in 1913.

Bradbury remained the governments chief financial advisor during the war and left thetreasury on 27 August 1919 to become principal British delegate to the ReparationCommission.

Within days a new design was being worked on. The design was produced by Mr. GeorgeEve and the notes were printed on banknote paper. The notes were issued on 23rd October(1) and 21st January 1915 (10/-). These notes are referred to as the second issue. Some

of these second issue notes were overprinted in Arabic, by the treasury, for use by British

forces in the Mediterranean.

A third design, featuring the Kings head on the obverse (front) was soon under way.

These were the first national notes to be printed on both sides. The 1 note had a picture

of the Houses of Parliament on the reverse whilst the 10/- note had a simple designfeaturing the denomination within a fancy pattern. The notes were issued on 22nd January

1917 (1) and 22nd October 1918 (10/-). The first and second issues ceased to be legaltender on 12th June 1920.
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BRADBURY SERIES 1 10/- NOTE

On 5th August 1914 (the day after war was declared), the Currency and Bank Notes Actwas passed which allowed the Treasury (not the Bank of England!) to issue currency notes

of 1 and 10/-. These notes had full legal tender status and were convertible for goldthrough the Bank of England.

The first notes were produced to a hurried design and, because of the lack of availabilityof banknote paper, were printed on paper produced for postage stamps. This is known asthe first Bradbury issue. The 1 note was issued on Friday August 7th and the 10/- a week

later.


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Within days of the first notes being issued, a new design was being worked on. The designwas produced by Mr. George Eve and the notes were printed on banknote paper. The notes

were issued on 23rd October 1914 (1) and 21st January 1915 (10/-). These notes arereferred to as the second issue.

Some of these second issue notes were overprinted in Arabic, by the Treasury, for use byBritish forces in the Mediterranean.


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BRADBURY SERIES 2 10/- DARDENELLES

OVERPRINT NOTE

Within days of the first notes being issued, a new design was being worked on. The designwas produced by Mr. George Eve and the notes were printed on banknote paper. The notes

were issued on 23rd October 1914 (1) and 21st January 1915 (10/-). These notes arereferred to as the second issue.

Some of these second issue notes were overprinted in Arabic, by the Treasury, for use by

British Military Expeditionary Forces in the Mediterranean. These were issued from Mayto June 1915. According to Inland Revenue records the notes were actually overprinted

on 21st May 1915.

The translation of the top line of Arabic reads "Piastres silver 60", whilst the bottom linetranslates as "Piastres silver sixty".


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Following the first two designs in 1914 and 1915, a third design, featuring the Kings head

on the obverse (front) was soon under way. These were the first national notes to be printedon both sides. The 1 note had a picture of the Houses of Parliament on the reverse whilstthe 10/- note had a simple design featuring the denomination within a fancy pattern. The

notes were issued on 22nd January 1917 (1) and 22nd October 1918 (10/-). The first andsecond issues ceased to be legal tender on 12th June 1920.


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BRADBURY SERIES 1 1 NOTE


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BRADBURY SERIES 2 1 NOTE


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RADBURY SERIES 3 1 NOTE

Following the first two designs in 1914 and 1915, a third design, featuring the Kings head

on the obverse (front) was soon under way. These were the first national notes to be printedon both sides. The 1 note had a picture of the Houses of Parliament on the reverse whilstthe 10/- note had a simple design featuring the denomination within a fancy pattern. The

notes were issued on 22nd January 1917 (1) and 22nd October 1918 (10/-). The first andsecond issues ceased to be legal tender on 12th June 1920.


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WARREN FISHER

Fenwick Warren Fisher was born in 1879 and entered the Civil Service in 1903. Afterspells with the Inland Revenue, a National Health Insurance Commission he wasappointed Deputy Chairman and then Chairman of the Board. In 1919 he was knighted

and as Sir Warren Fisher went as Permanent Secretary to the treasury where he stayed

until his retirement in 1939. The first issue of notes under Sir Warren Fisher were identical(other than his signature) to the third issue of Bradbury.

In 1923, a new watermark was introduced into the 1. Notes from this time are referred to

as the second issue.

In 1927, following the Royal and Parliamentary Titles Act, the heading on the notes waschanged to "UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN

IRELAND". Notes from this time are referred to as the third issue.

In November 1928, the Bank of England took over the production of 10/- and 1 notes,with the treasury notes from the third Bradbury issue onwards remaining legal tender untilthe 31st July 1933.
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WARREN FISHER SERIES 1 10/- NOTE



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WARREN FISHER SERIES 1 1 NOTE



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