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WELL
it did and in fact some of the currency
can be seen still to this day, sadly no longer legal
tender, at the Liverpool Museum.
Between
1793 and 1796, the city of Liverpool developed its own
bank notes, today unique and very rare. It is the
Liverpool Corporation who took this bold and pioneering
initiative as a solution to the economic crisis, which
touched the area in the 1790s.
This
crisis was partly brought about by the effect of war
upon trade. A loan from the Bank of England was not
forthcoming, so an Act of Parliament was obtained to set
up a Corporation Loan Office to issue its own negotiable
notes.
Note
payable to the bearer of £100 and £50 with interest
and £10 and £5 without interest were issued on the
credit of the corporate estate. The plan was a great
success and ended in 1796 when the crisis was over.
Record
of the House of Commons
Committee that was petition by Members of the Common Council of the Town of
Liverpool can be seen by going to www.bopcris.ac.uk/bop1688/ref585.html.
On that page you can see the paper that was
referred, Chairman Jackson, Sir George and published on
the 15 April 1793.
The notes
that survive were found by accident by workmen, after renovation
work was being completed in the subterranean vaults and basement
areas of St Gorges Hall, Liverpool. in the 1990's.
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