Scotland today has one of the most unique banking systems in the world and is of historical significance. In 1965, The Bank of Scotland was the first bank in Europe to print promissory notes, what we call cash today, but even with a different name, it still serves the same purpose - it is a 'promise to pay the bearer on demand' - as the notes we carry are nothing more than a ticket to claim the gold we have in the bank. If you search for this on Google you will be met with a screed of results that show that the Bank of England was the first to issue promissory notes in 1694, however these were handwritten, not printed.
How were they printed? I scoured Google, then decided to bring in the quick draw search facility of the ChatterboxGPT which provided a good answer:
"In 1695, the printing of the Bank of Scotland’s promissory notes relied on the technology and craftsmanship available at the time. Here’s how they were likely produced:
Printing Method:
The notes would have been printed using copperplate engraving and letterpress printing, which were the most advanced techniques available during the late 17th century.
Copperplate Engraving:
A design, including the text and any decorative elements, was meticulously engraved into a copperplate by a skilled engraver.
The plate was inked, and the surface was wiped clean, leaving ink only in the engraved lines.
Paper was pressed onto the plate using a rolling or screw press, transferring the ink to the paper.
This technique allowed for detailed and fine printing but was labor-intensive and limited in output.
Letterpress Printing:
Letterpress involved arranging individual letters and symbols made of metal or wood onto a printing plate.
Ink was applied to the raised surface, and paper was pressed against it, transferring the inked design.
This method was typically used for text and less intricate designs.
Facilities Available in Edinburgh:
Edinburgh had several skilled engravers, stationers, and printers who catered to various needs for books, pamphlets, and official documents.
Privately owned printing houses were common, such as those operated by craftsmen like George Mosman and Andrew Anderson, who were among the leading printers in Edinburgh during this period.
These facilities were small by modern standards, typically operated by a master printer with a small team of apprentices and journeymen.
Materials Used:
Paper:
The paper was handmade, usually from linen or cotton rag pulp, which was durable and well-suited for financial documents.
Scotland likely imported high-quality paper from the Netherlands or used locally produced paper, which was less common but growing in availability.
Ink:
Printing ink was made from natural dyes, soot, and linseed oil, providing the rich black appearance characteristic of early printed documents.
Security Features:
The notes often incorporated intricate designs and watermarks to deter counterfeiting, which could be achieved through engraving.
Labour-Intensive Process:
Each note was effectively handmade, with the printing, cutting, and even signing done manually. Skilled calligraphers or clerks often added serial numbers and signatures to ensure authenticity.
This combination of engraving, letterpress printing, and hand-finishing made early Bank of Scotland promissory notes some of the most advanced financial documents of their time.
Since then, banking in Scotland has changed dramatically, going from a financially astute, financially independent nation to what it is today - a nation that, if it were to be compared to a similar situation at the micro-level, would likely be considered to be in a controlling and manipulative relationship suffering from economic and financial abuse.
To peace and prosperity,
Jacqs
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