By the end of February 1797, it had less than £1,000,000 left. And so, on 2 March, it started issuing low denomination promissory notes – the pound note was born (along with a two-pound note).

The Chancellor of the Exchequer announces plans to withdraw the £1 note on 12 November ... but would last up to 50 times longer. The pound note was first issued in 1797 and was put into ...