British £5 note does not make sense - Printable Version

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British £5 note does not make sense - sgbuffett - 25-06-2024

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?

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RE: British £5 note does not make sense - grotesqueness - 25-06-2024

(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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RE: British £5 note does not make sense - starbugs - 25-06-2024

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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RE: British £5 note does not make sense - sgbuffett - 26-06-2024

(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

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