Letter: Campaign cash cap

Thursday 15 October 1998 23:02 BST

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Sir: As an Edwardian (just) I was around in 1914 but less interested in paper money than in copper coins ("A ha'porth of bulls' eyes, please").

On growing up I acquired the belief that until the outbreak of war in 1914 our currency was based on the gold sovereign with bank notes issued by the Bank of England and Bank of Scotland for convenience. In August 1914 the sovereign was withdrawn to conserve gold, being replaced by Treasury notes. These pounds 1 notes bore a picture of the King, as they were issued by his Treasury.

Losing the Queen's head on our paper money after EMU will merely restore a state of affairs perfectly acceptable to our Edwardian and Victorian forebears.

JOHN M WHITMARSH

Ludlow, Shropshire

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