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The E-Sylum: Volume 11, Number 15, April 13, 2008, Article 25 WOULD WALES WELCOME A WELSH BANKNOTE? [A Welsh publication article discusses a movement to reintroduce banknotes in Wales. -Editor] THE reintroduction of Welsh banknotes would provide a national morale boost and help kick-start the expansion of a home-grown financial sector, according to a Plaid Cymru parliamentary candidate. Steffan Lewis, who will be standing in Islwyn at the next general election, says bringing back Welsh notes after a gap of 100 years would provide a further reason for pride after the rugby Grand Slam and Cardiff City's success in reaching the FA Cup final. The last Welsh banknotes were withdrawn in 1908 when the North & South Wales Bank was taken over by Midland Bank (now HSBC). Yet Scotland still has its own notes issued by three separate banks, while in Northern Ireland four banks, including some with headquarters in the Republic of Ireland, put out their own paper currency. The Bank Charter Act 1844 prohibited the issuing of new banknotes in England and Wales and further legislated that any bank subject to takeover would lose its note-issuing right. In 1908 the North & South Wales Bank was acquired by Midland Bank, and its banknotes were consequently withdrawn from circulation. To read the complete article, see: Full Story Wayne Homren, Editor The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org. To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@coinlibrary.com To subscribe go to: https://my.binhost.com/lists/listinfo/esylum | |
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