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On the 5 pound note it says
"I promise to pay the bearer on demand a sum 5 pounds"
![[Image: uJCBmtz.jpeg]](https://i.imgur.com/uJCBmtz.jpeg)
So the government promise to give you back the 5 pounds that you are holding?
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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(25-06-2024, 08:28 PM)sgbuffett Wrote: On the 5 pound note it says
"I promise to pay the bearer on demand a sum 5 pounds"
So the government promise to give you back the 5 pounds that you are holding?
no
long long time ago
far far far away
banknotes represented deposits of gold
get it
bozo
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This was a legacy phrase from long ago.
From bank of England:
"The words 'I promise to pay the bearer on demand the sum of five/ten/twenty/fifty pounds' appear on all of our notes. This phrase dates from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold of the same value."
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(25-06-2024, 09:02 PM)starbugs Wrote: This was a legacy phrase from long ago.
From bank of England:
"The words 'I promise to pay the bearer on demand the sum of five/ten/twenty/fifty pounds' appear on all of our notes. This phrase dates from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold of the same value."
Now there is no gold to exchange for....so the phrase is redundant or false
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
![](https://i.imgur.com/CLvY2jA.png")
