The Evolution of Paper Money in England

Abstract

Introductory, 361. — The bill obligatory, 363. — The Privy Seal demand note, 364. — The debenture, 366. — The payment order, 369. — The repayment order, or “order of loan,” 370. — The fiduciary order, or “order of the Exchequer,” 370. — The tally, 371. — Post-Restoration innovations, 372. — The circulation of fiduciary orders, 373. — The “Stop” of the Exchequer, 373. — A general classification of Carolean paper orders, 374. — Specimen copies of Carolean repayment, and fiduciary orders, 376. — Important characteristics of these orders, 379. The goldsmith banker's “running cash” note, 379. — The earliest metropolitan engraved promissory notes, 379. — The earliest provincial engraved promissory notes, 380. — The bill of exchange and its development, 383. — The emergence of assignability, 383. — Malynes, Marius, and Scarlett on bills of exchange, 384. — The “outland” and the “inland” bill, 386. — The assignability of the promissory note, 386. — The earliest cheques, 389. — The demand note upon the Exchequer, 390. — The Auditor of the Receipt's note, 391. — The origin of Exchequer bills, 393. — The Bank of England's earliest paper money, 397. — The Bank's sealed bill, 397. — The Bank's promissory note, 399. — The Bank's “accomptable” note, 400. — The Bank's “lettered” note, 401. — The Bank's “specie” note, 401. — The Banker's annuity order, 402.