Obverse(33k)UK £1 notes 1914 to 1988.
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The Bank of England was founded in 1694 primarily to raise funds to finance the War of the Grand Alliance against France.Banknotes were issued almost immediately although mainly in denominations of £5 pounds and above.The first significant amounts of Bank of England £1 notes did not appear until 1797 although some private and Provincial banks produced notes of varying denominations from around 1750 onwards. The following page is more concerned with 'modern' mass produced banknotes.
With the outbreak of the First World war in 1914 the need for the 're-introduction' of £1 notes was realised . The country had to make restrictions and maintain its' gold reserve . For up to more than a century before gold sovereigns and half sovereign coins had been everyday currency....the Bank Charter of 1833 had forced the withdrawl of banknotes under £5 and smaller notes ceased to be legal tender . The Currency and Banknote act was hurriedly passed , the day after war was declared , which empowered the Treasury to issue currency notes in the values of £1 and 10 shillings (half a £1) having full legal tender status. Sir John Bradbury a high ranking treasury official became the signatory on the new notes . Four million notes were hurriedly printed over the August Bank Holiday weekend on paper used to print stamps as no banknote paper was available . The £1 notes were produced by Waterlow Bros and Layton , measuring 127mm X 63.5mm with an estimated production of 2.5 million .
Within a month a better , more considered and permanent design by George Eve was produced and these became the 'second issue '. They were of a very simple design , black ink on white paper , because it would make forgery harder - yet easier to detect . These notes were introduced into circulation between October 1914 and January 1915 and were printed on watermarked banknote paper produced by William Joynson and Co . The notes measured 149mm X 85mm with quantity produced unknown .These notes remained in circulation until 12th June 1920 .
British Treasury Note (Issue 1) circa 1914.
Obverse(33k)
The reverse of this note is plain.
In 1917 a new , Bertram Mackennal designed , note was introduced . These issue 3 notes were brown , purple and green on white or cream coloured paper measuring 151mm X 84mm . Quantity printed is estimated at 825 million and they remained in circulation until 1st August 1933 .
British Treasury Note (Issue 3) circa 1917.
Obverse(44k)
Reverse(32k)
When the First World War ended it ultimately lead to the end of Bradburys 'reign'. In 1919 he left the Treasury to become Principal British Delegate to the War Reparations Commission . Bradbury was succeeded as Permanent Secretary to the Treasury by Sir Norman Fenwick Warren-Fisher . Warren-Fisher then became the signatory on the notes (issue 1 , estimated procuction of 1150 million) which remained relatively unchanged in design until 1923 with the introduction of a new watermark . These notes were issue 2 with estimated production of 1700 million . A further change in the notes occurred in 1927 ( issue 3 , 530 million estimate production) when under the The Royal and Parliamentary Titles Act the heading on the banknote was changed to 'United Kingdom of Great Britain and Northern Ireland' ....the inclusion of the word Northern . All three Fisher issue notes remained in circulation until July 1933 .
In 1928 the Currency and Banknotes Act was passed and the Bank of England assumed responsibilty for the production of all banknotes for the first time in over a hundred years . The Banks first issue , known as Series A , were issued bearing the signature of the Banks Chief Cashier , Cyril Patrick Mahon . Series A notes were green on white designed by William Keesey and experts inside and outside the Bank of England . The notes measured 151mm X 84 with production estimate at 725 million .
Bank of England £1 (Series A) Circa 1928
Obverse(47k)
Reverse(43k)
In 1929 Mahon retired due to ill health to be replaced by Basil Gage Catterns who then became the new Chief Cashier and signatory . The notes were unchanged in design with 1552 million estimated production bearing Catterns signature . Catterns was promoted in 1934 to Deputy General and was succeeded by Kenneth Oswald Peppiatt , the banks 20th Cashier . The notes remained unchanged again, excepting signatory ,with production estimate of 2583 million until after the outbreak of the Second World War . In 1940 an embeded metal security thread was added to the paper and the main colour was changed to blue. Production of these blue Series A notes is estimated at 5380 million .
Bank of England £1 (Series A Blue) Circa 1940
Obverse(54k)
Reverse(46k)
In 1948 the notes 'reverted' to their pre war green colouring with some of the notes being printed on unthreaded paper to utilise the banks old paper stocks (esimated 1194 million produced) . Peppiatt was succeeded as Chief Cashier in 1949 by Percival Spencer Beale .
During Beale's stint as Chief Cashier a new design was commissioned , in fact several designs had been submitted between 1931 and 1950 but none were never followed through . The new design , Series B , by Stephen Gooden was never issued in £1 denominations , only in the value of £5 replacing old 'white fivers' which had not changed that much since their introduction in 1694 . Estimated production ran to 4345 million . Beale was succeeded in 1955 by Leslie Kenneth O'Brien , some 3863 million O'Brien series A notes were issued .
In 1956 Her Majesty Queen Elizabeth II gave permission for her portrait to appear on banknotes and work began on designing a new note which became Series C . The Series C designed by Robert Austin measures 151mm X 72mm , green on white paper and was introduced in 1960 . Estimated O'Brien series C production is 3714 million.
Bank of England £1 (Series C) Circa 1960
Obverse(37k)
Reverse(33k)
Jasper Quintus Hollom (6430 million estimate production) replaced O'Brien in 1962 to be succeeded by John Standish Fforde in 1966 (2107 million estimate production) himself succeeded by John Branwyn Page in 1970 with estimate production of 8100 million .
In 1978 a new , Series D , note entered circulation . It was designed by Harry Eccleston and measured 134.5mm X 66.7 mm . Series D notes were the first (and last ?) multicoloured £1 note although green was still the predominate colour . New features included only one serial number (bottom right hand corner) with the top left hand side intentional blank so that electronic note sorting machines could read encoded marks . Estimated totals for Page series D notes is 3157 million .
Bank of England £1 (Series D) Circa 1978
Obverse(33k)
Reverse(35k)
The series D note was colour enhanced in 1981 when David Henry Fitzroy Somerset replaced Page as Chief Cashier . Sadly on 11th of March 1988 the series D was demonetised "replaced" by £1 coins (first issued in 1983) which remain in circulation today . The very last (?) £1 note produced bore the serial number DY21 999997 and can be seen in the Bank of Englands museum in London . Somerset issued series D notes totalled 2877 million .
Since Somerset the Bank has had three further Chief Cashiers , George Malcolm Gill (1988-1991) Graham Edward Alfred Kentfield (1991-1999) and the first woman and 29th Chief Cashier Ms Merlyn Lowther (1999 - ).
Further reading and good reference sources are English Paper Money , written by Vincent Duggleby , published by Spink (ISBN 0-907605-47-8) which covers all denominations of Treasury and Bank of England Notes from 1694 to current day and The Standard Catalogue of Provincial Banks and Banknotes . The later book covers all Private and provincial bank issues from 1750 to end , again pulished by Spink , authored by G L Grant . I believe this book is currently out of print (hence no ISBN number) last published in 1977 although I managed to purchase a 'brand new' copy in 1995 .