Queen's University Belfast
Queen's University Belfast is a public research university in Belfast, Northern Ireland. The university was chartered in 1845, opened in 1849 as "Queen's College, Belfast", it offers academic degrees at various levels and across a broad subject range, with over 300 degree programmes available. Its president and vice-chancellor is Ian Greer; the annual income of the institution for 2017–18 was £369.2 million of which £91.7 million was from research grants and contracts, with an expenditure of £338.4 million. Queen's is a member of the Russell Group of leading research intensive universities, the Association of Commonwealth Universities, the European University Association, Universities Ireland and Universities UK; the university is associated with one Turing Award laureate. Queen's University Belfast has its roots in the Belfast Academical Institution, founded in 1810 and which remains as the Royal Belfast Academical Institution; the present university was first chartered as "Queen's College, Belfast" in 1845, when it was associated with the founded Queen's College and Queen's College, Galway, as part of the Queen's University of Ireland – founded to encourage higher education for Catholics and Presbyterians, as a counterpart to Trinity College, Dublin an Anglican institution.
Queen's College, opened in 1849. Its main building, the Lanyon Building, was designed by Sir Charles Lanyon. At its opening, it had 195 students; some early students at Queen's University Belfast took University of London examinations. The Irish Universities Act, 1908 dissolved the Royal University of Ireland, which had replaced the Queen's University of Ireland in 1879, created two separate universities: the current National University of Ireland and Queen's University of Belfast; the university was one of only eight United Kingdom universities to hold a parliamentary seat in the House of Commons at Westminster until such representation was abolished in 1950. The university was represented in the Parliament of Northern Ireland from 1920 to 1968, when graduates elected four members. On 20 June 2006, the university announced a £259 million investment programme focusing on facilities and research. One of the outcomes of this investment has been a new university library; the building has been named in honour of Sir Allen McClay, a major benefactor of Queen's University and of the Library.
In June 2010, the university announced the launch of a £7.5m Ansin international research hub with Seagate Technologies. Queen's is one of the largest employers in Northern Ireland, with a total workforce of 3,903, of whom 2,414 were members of academic, academic-related and research staff and 1,489 were administrative employees. In addition to the main campus on the southern fringes of Belfast city centre, the university has two associated university colleges, St Mary's and Stranmillis located in the west and south-west of the city respectively; these colleges offer teacher training for those who wish to pursue teaching careers and a range of degree courses, all of which are centred around a liberal arts core. While the university refers to its main site as a campus, the university's buildings are in fact spread over a number of public streets in South Belfast, principally Malone Road, University Road, University Square and Stranmillis Road, with other departments located further afield. Academic life at Queen's is organised into fifteen schools across three faculties.
The three faculties are the Faculty of Arts, Humanities & Social Sciences, the Faculty of Engineering & Physical Sciences and the Faculty of Medicine, Health & Life Sciences. Each of the schools operates as a primary management unit of the university and the schools are the focus for education and research for their respective subject areas. School of Biological Sciences School of Chemistry and Chemical Engineering School of Electronics, Electrical Engineering and Computer Science School of Arts and Languages School of History, Anthropology and Politics School of Law Queen's Management School School of Mathematics and Physics School of Mechanical and Aerospace Engineering School of Medicine and Biomedical Sciences School of Nursing and Midwifery School of Pharmacy School of Natural and Built Environment School of Psychology School of Social Sciences and Social Work Gibson Institute- involved in education and research in the areas of sustainability, rural development, environmental management, food marketing, renewable energy, physical activity and public health Institute for Collaborative Research in the Humanities – established in 2012, supports interdisciplinary research in the Humanities at all levels.
On Feb 18th 2016 BBC Northern Ireland reported. Institute for Global Food Security Institute for the Study of Conflict Transformation and Social Justice Institute of Cognition and Culture- Founded in 2004, this is one of the world's first centres for research in the cognitive science of culture, it has brought together a range of cutting-edge cognitive scientists via a series of visiting fellowships. Institute of Electronics and Information Technology - established in 2003 to commercialise world-class research and expertise in a variety of enabling digital communications technologies at the School of Electronics, Electrical Engineering and Computer Science at Queen's University Belfast. Institute of Irish Studies- It was the first of its kind to be established in the world and is one of the lead
Royal Bank of Scotland
The Royal Bank of Scotland (Scottish Gaelic: Banca Rìoghail na h-Alba, Scots: Ryal Bank o Scotland abbreviated as RBS, is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches in Scotland, though there are branches in many larger towns and cities throughout England and Wales. Both the bank and its parent, The Royal Bank of Scotland Group, are separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates The Royal Bank of Scotland by 32 years; the Royal Bank of Scotland was established in 1724 to provide a bank with strong Hanoverian and Whig ties. Following ring-fencing of the Group's core domestic business, the bank is expected to become a direct subsidiary of NatWest Holdings by 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity was renamed NatWest Markets in 2018. Drummond and Child & Co. businesses in England.
The bank traces its origin to the Society of the Subscribed Equivalent Debt, set up by investors in the failed Company of Scotland to protect the compensation they received as part of the arrangements of the 1707 Acts of Union. The "Equivalent Society" became the "Equivalent Company" in 1724, the new company wished to move into banking; the British government received the request favourably as the "Old Bank", the Bank of Scotland, was suspected of having Jacobite sympathies. Accordingly, the "New Bank" was chartered in 1727 as the Royal Bank of Scotland, with Archibald Campbell, Lord Ilay, appointed its first governor. On 31 May 1728, the Royal Bank of Scotland invented the overdraft, considered an innovation in modern banking, it allowed a merchant in the High Street of Edinburgh, access to £ 1,000 credit. Competition between the Old and New Banks was centred on the issue of banknotes; the policy of the Royal Bank was to either drive the Bank of Scotland out of business, or take it over on favourable terms.
The Royal Bank built up large holdings of the Bank of Scotland's notes, which it acquired in exchange for its own notes suddenly presented to the Bank of Scotland for payment. To pay these notes, the Bank of Scotland was forced to call in its loans and, in March 1728, to suspend payments; the suspension relieved the immediate pressure on the Bank of Scotland at the cost of substantial damage to its reputation, gave the Royal Bank a clear space to expand its own business—although the Royal Bank's increased note issue made it more vulnerable to the same tactics. Despite talk of a merger with the Bank of Scotland, the Royal Bank did not possess the wherewithal to complete the deal. By September 1728, the Bank of Scotland was able to start redeeming its notes again, with interest, in March 1729, it resumed lending. To prevent similar attacks in the future, the Bank of Scotland put an "option clause" on its notes, giving it the right to make the notes interest-bearing while delaying payment for six months.
Both banks decided that the policy they had followed was mutually self-destructive and a truce was arranged, but it still took until 1751 before the two banks agreed to accept each other's notes. The bank opened its first branch office outside Edinburgh in 1783 when it opened one in Glasgow, in part of a draper's shop in the High Street. Further branches were opened in Dundee, Dalkeith, Port Glasgow, Leith in the first part of the nineteenth century. In 1821, the bank moved from its original head office in Edinburgh's Old Town to Dundas House, on St. Andrew Square in the New Town; the building as seen along George Street forms the eastern end of the central vista in New Town. It was designed for Sir Lawrence Dundas by Sir William Chambers as a Palladian mansion, completed in 1774. An axial banking hall behind the building, designed by John Dick Peddie, was added in 1857; the banking hall continues in use as a branch of the bank, Dundas House remains the registered head office of the bank to this day.
The rest of the nineteenth century saw the bank pursue mergers with other Scottish banks, chiefly as a response to failing institutions. The assets and liabilities of the Western Bank were acquired following its collapse in 1857. By 1910, the Royal Bank of Scotland had around 900 staff. In 1969, the bank merged with the National Commercial Bank of Scotland to become the largest clearing bank in Scotland; the expansion of the British Empire in the latter half of the nineteenth century saw the emergence of London as the largest financial centre in the world, attracting Scottish banks to expand southward into England. The first London branch of the Royal Bank of Scotland opened in 1874. However, English banks moved to prevent further expansion by Scottish banks into England. An agreement was reached, under which English banks would not open branches in Scotland and Scottish banks would not open branches in England outside London; this agreement remained in place until the 1960s, although various cross-border acquisitions were permitted.
The Royal Bank's English expansion plans were resurrected after World War I, when it acquired various small English banks, includin
The pound sterling known as the pound and less referred to as sterling, is the official currency of the United Kingdom, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, Tristan da Cunha. It is subdivided into 100 pence. A number of nations that do not use sterling have currencies called the pound. Sterling is the third most-traded currency in the foreign exchange market, after the United States dollar, the euro. Together with those two currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is the third most-held reserve currency in global reserves; the British Crown dependencies of Guernsey and the Isle of Man produce their own local issues of sterling which are considered equivalent to UK sterling in their respective regions. The pound sterling is used in Gibraltar, the Falkland Islands, Saint Helena and Ascension Island in Saint Helena and Tristan da Cunha; the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued by other jurisdictions are not regulated by the Bank of England. The full official name pound sterling, is used in formal contexts and when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is used; the currency name is sometimes abbreviated to just sterling in the wholesale financial markets, but not when referring to specific amounts. The abbreviations "ster." and "stg." are sometimes used. The term "British pound" is sometimes incorrectly used in less formal contexts, it is not an official name of the currency; the exchange rate of the pound sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets. The origins of this term are attributed to the fact that in the 1800s, the GBP/USD exchange rate was transmitted via transatlantic cable. Forex traders of GBP/USD are sometimes referred to as "cable dealers". GBP/USD is now the only currency pair with its own name in the foreign exchange markets, after IEP/USD, known as "wire" in the forward FX markets, no longer exists after the Irish Pound was replaced by the euro in 1999.
There is apparent convergence of opinion regarding the origin of the term "pound sterling", toward its derivation from the name of a small Norman silver coin, away from its association with Easterlings or other etymologies. Hence, the Oxford English Dictionary state that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans; as another established source notes, the compound expression was derived: However, the perceived narrow window of the issuance of this coin, the fact that coin designs changed in the period in question, led Philip Grierson to reject this in favour of a more complex theory. Another argument that the Hanseatic League was the origin for both the origin of its definition and manufacture, in its name is that the German name for the Baltic is "Ost See", or "East Sea", from this the Baltic merchants were called "Osterlings", or "Easterlings".
In 1260, Henry III granted them a charter of protection and land for their Kontor, the Steelyard of London, which by the 1340s was called "Easterlings Hall", or Esterlingeshalle. Because the League's money was not debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver; the currency sign for the pound is £, written with a single cross-bar, though a version with a double cross-bar is sometimes seen. This symbol derives from medieval Latin documents; the ISO 4217 currency code is GBP, formed from "GB", the ISO 3166-1 alpha-2 code for the United Kingdom, the first letter of "pound". It does not stand for "Great Britain Pound" or "Great British Pound"; the abbreviation "UKP" is used but this is non-standard because the ISO 3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes: GGP, JEP and IMP. Stocks are traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices.
A common slang term for the pound sterling or pound is quid, singular and plural, except in the common phrase "quids in!". The term may have come via Italian immigrants from "scudo", the name for a number of coins used in Italy until the 19th century.
Hibernia as a national personification representing Ireland appeared in numerous cartoon and drawings in the nineteenth century. As depicted in frequent cartoons in Punch, a magazine outspokenly hostile to Irish nationalism, Hibernia was shown as "Britannia's younger sister", she is an vulnerable girl. She is threatened by manifestations of Irish nationalism such as the Fenians or the Irish National Land League depicted as brutish, ape-like monsters. Unable to defend herself, Hibernia is depicted turning to the strong, armoured Britannia for defence. John Tenniel, now remembered as the illustrator of Alice's Adventures in Wonderland, produced a number of such depictions of Hibernia. At times nationalist publications did use the image of Hibernia; however because of the pro-union publications' adoption of the "helpless" image of Hibernia, nationalist publications would use Erin and Kathleen Ni Houlihan as personifications of Irish nationhood.. A statue, derived from an original by Edward Smyth and depicting a more confident Hibernia, stands in the central position of three atop the General Post Office in Dublin
Banknotes of Scotland
Banknotes of Scotland are the banknotes of the Pound Sterling that are issued by the Scottish banks and in circulation in Scotland. The issuing of banknotes by retail banks in Scotland is subject to the Bank Charter Act 1844, the Banknotes Act 1845, the Currency and Bank Notes Act 1928, the Coinage Act 1971. Three retail banks are allowed to print notes for circulation in Scotland: Bank of Scotland, Royal Bank of Scotland, Clydesdale Bank. Scottish banknotes are unusual, first because they are issued by retail banks, not central banks, second, because they are technically not legal tender anywhere in the United Kingdom – not in Scotland; as such, they are classified as promissory notes, the law requires that the issuing banks hold a sum of Bank of England banknotes or gold equivalent to the total value of notes issued. The fact that the notes are not defined as legal tender means that they are not withdrawn from circulation in the same way as the Bank of England notes, which cease to be legal tender on a given date.
Instead the Scottish banks withdraw old notes from circulation as they are banked. Any notes still in circulation continue to be honoured by banks, but retailers may refuse to accept older notes. All Bank of Scotland notes bear a portrait of Sir Walter Scott on the front in commemoration of his 1826 Malachi Malagrowther campaign for Scottish banks to retain the right to issue their own notes; the Bank of Scotland's 2007 series of banknotes is known as the Bridges of Scotland series. These notes were introduced on 17 September 2007, show Scotland's most famous bridges on the reverse side. From 2016, the Bridges of Scotland series is being renewed with the issue of new polymer notes with designs that follow the same basic theme of "bridges"; the Tercentenary and 2007 series of notes are being withdrawn from circulation and replaced with the polymer series as these are issued, but older notes continue to be accepted at banks. In line with this, the Committee of Scottish Bankers encouraged the public to spend or exchange non-polymer five and ten pound notes before 1 March 2018.
Following the announcement that HBOS would be taken over by Lloyds TSB in September 2008, it was confirmed that the new banking company would continue to print bank notes under the Bank of Scotland name. According to the Bank Notes Act 1845, the bank could have lost its note-issuing rights, but by retaining headquarters within Scotland, banknote issue continued; as of August 2017, the Royal Bank of Scotland is in the process of adopting a new series of banknotes. These will be made of polymer. Two have been released, whilst a new £20 note is being designed; the £5 note shows Nan Shepherd on the obverse accompanied by a quote from her book'The Living Mountain', the Cairngorms in the background. The reverse displays two mackerel, with an excerpt from the poem ‘The Choice’ by Sorley MacLean; the obverse of the £10 note shows Mary Somerville, with a quote from her work'The Connection of the Physical Sciences', Burntisland beach in the background. The reverse displays an excerpt from the poem ` Moorings' by Norman MacCaig.
The obverse of the £20 note, to be introduced in 2020, will show Catherine Cranston. The design process of the notes was touted as a "collaboration with the people of Scotland", with a total of 1,178 Scots being included. Nile HQ, a Strategic Design Company led De La Rue printed the notes; each note contributes to an overall theme ‘Fabric of Nature’. Given the national significance of the notes, Nile HQ invited some Scottish designers and calligraphers to develop the creative concept for the new notes; the previous series of Royal Bank of Scotland notes issued in 1987, remains in circulation, although it is now in the process of being replaced by polymer notes: the Committee of Scottish Bankers encouraged the public to spend or exchange non-polymer five and ten pound notes before 1 March 2018.. On the front of each note is a picture of Lord Ilay, the first governor of the bank, based on a portrait painted in 1744 by the Edinburgh artist Allan Ramsay; the front of the notes features an engraving of the bank's former headquarters in St Andrew Square, Edinburgh.
The background graphic on both sides of the notes is a radial star design, based on the ornate ceiling of the banking hall in the old headquarters building. On the back of the notes are images of Scottish castles, with a different castle for each denomination; the Royal Bank of Scotland issues commemorative banknotes. Examples are the £1 note issued to mark the 150th anniversary of the birth of Alexander Graham Bell in 1997, the £20 note for the 100th birthday of Queen Elizabeth The Queen Mother in 2000, the £5 note honouring veteran golfer Jack Nicklaus in his last competitive Open Championship at St Andrews in 2005, the £10 note commemorating HM Queen Elizabeth II's Diamond Jubilee in 2012; these notes are much sought after by collectors, they remain long in circulation. Clydesdale Bank has three series of banknotes in circulation at present; the most recent set of notes, the Polymer series, came into circulation in March 2015, when the Clydesdale Bank became the first bank in Great Britain to issue polymer banknotes.
The £5 commemorative notes, issued to mark the 125th anniversary of the construction of the Forth Bridge, contain several new security features including a reflective graphic printed over a transparent "window" in the banknote. Further notes in the polymer series will be introduced over time, replacing the previous paper notes: the public are being encouraged to spend or exchange non-polymer five and ten
The Crown dependencies are three island territories off the coast of Great Britain that are self-governing possessions of the Crown: the Bailiwick of Guernsey, the Bailiwick of Jersey and the Isle of Man. They do not form part of either the British Overseas Territories. Internationally, the dependencies are considered "territories for which the United Kingdom is responsible", rather than sovereign states; as a result, they are not member states of the Commonwealth of Nations. However, they do have relationships with the Commonwealth, the European Union, other international organisations, are members of the British–Irish Council, they have their own teams in the Commonwealth Games. They are not part of the European Union; the Isle of Man is within the EU's VAT area. As the Crown dependencies are not sovereign states, the power to pass legislation affecting the islands rests with the government of the United Kingdom; however they each have their own legislative assembly, with the power to legislate on many local matters with the assent of the Crown.
In each case, the head of government is referred to as the Chief Minister. "The Crown" is defined differently in each Crown Dependency. In Jersey, statements in the 21st century of the constitutional position by the Law Officers of the Crown define it as the "Crown in right of Jersey", with all Crown land in the Bailiwick of Jersey belonging to the Crown in right of Jersey and not to the Crown Estate of the United Kingdom. Legislation of the Isle of Man defines the "Crown in right of the Isle of Man" as being separate from the "Crown in right of the United Kingdom". In Guernsey, legislation refers to the "Crown in right of the Bailiwick", the Law Officers of the Crown of Guernsey submitted that "The Crown in this context ordinarily means the Crown in right of the république of the Bailiwick of Guernsey" and that this comprises "the collective governmental and civic institutions, established by and under the authority of the Monarch, for the governance of these Islands, including the States of Guernsey and legislatures in the other Islands, the Royal Court and other courts, the Lieutenant Governor, Parish authorities, the Crown acting in and through the Privy Council."
This constitutional concept is worded as the "Crown in right of the Bailiwick of Guernsey". Since 1290, the Channel Islands have been governed as the Bailiwick of Jersey, comprising the island of Jersey and uninhabited islets such as the Minquiers and Écréhous the Bailiwick of Guernsey, comprising the islands of Guernsey, Alderney, Herm and Lihou; each Bailiwick is a Crown dependency and each is headed by a Bailiff, with a Lieutenant Governor representing the Crown in each Bailiwick. Each Bailiwick has its own legal and healthcare systems, its own separate immigration policies, with "local status" in one Bailiwick having no jurisdiction in the other; the two Bailiwicks exercise bilateral double taxation treaties. Since 1961, the Bailiwicks have had separate courts of appeal, but the Bailiff of each Bailiwick has been appointed to serve on the panel of appellate judges for the other Bailiwick; the Bailiwick of Guernsey comprises three separate jurisdictions: Guernsey, which includes the nearby islands of Herm and Jethou, other smaller uninhabited islands.
Sark, which includes the nearby island of Brecqhou, other smaller uninhabited islands. Alderney, including smaller surrounding uninhabited islands; the parliament of Guernsey is the States of Deliberation, the parliament of Sark is called the Chief Pleas, the parliament of Alderney is called the States of Alderney. The three parliaments together can approve joint Bailiwick-wide legislation that applies in those parts of the Bailiwick whose parliaments approve it. Guernsey issues its own coins and banknotes: Guernsey banknotes Coins of the Guernsey poundThese circulate in both Bailiwicks alongside UK coinage and English and Scottish banknotes, they are not legal tender within the UK. There are no political parties in any of the parliaments. Guernsey has its own separate international vehicle registrations, internet domain, ISO 3166-2 codes, first reserved on behalf of the Universal Postal Union and added by the International Organization for Standardization on 29 March 2006. In any case the GBG on a numberplate is only put on the number plate of a car or motorbike at the request of the vehicle owner and is not compulsory, however a motorbike/scooter can have an identical number to a car, e.g. 5432 on 2 wheels and on 4 wheels.
The Bailiwick of Jersey consists of the island of Jersey and a number of surrounding uninhabited islands. The parliament is the States of Jersey, the first known mention of, in a document of 1497; the States of Jersey Law 2005 introduced the post of Chief Minister of Jersey, abolished the Bailiff's power of dissent to a resolution of the States and the Lieutenant Governor's power of veto over a resolution of the States, established that any Order in Council or Act of the United Kingdom proposed to apply to Jersey must be referred to the States so that the States can express their views on it. Jersey issues its own coins and banknotes: Jersey banknotes Coins of the Jersey poundThese circulate in both Bailiwicks alongside UK coinage and English and Scottish banknotes, they are not legal tender within
The pound is the currency of Jersey. Jersey is in currency union with the United Kingdom, the Jersey pound is not a separate currency but is an issue of banknotes and coins by the States of Jersey denominated in pound sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland, it can be exchanged at par with notes. For this reason, ISO 4217 does not include a separate currency code for the Jersey pound, but where a distinct code is desired JEP is used. Both Jersey and Bank of England notes are legal tender in Jersey and circulate together, alongside the Guernsey pound and Scottish banknotes; the Jersey notes are not legal tender in the United Kingdom but are legal currency, so creditors and traders may accept them if they so choose. The livre was the currency of Jersey until 1834, it consisted of French coins which, in the early 19th century, were exchangeable for sterling at a rate of 26 livres = 1 pound. After the livre was replaced by the franc in France in 1795, the supply of coins in Jersey dwindled leading to difficulties in trade and payment.
In 1834, an Order in Council adopted the pound sterling as Jersey's sole official legal tender, although French copper coins continued to circulate alongside British silver coins, with 26 sous equal to the shilling. Because the sous remained the chief small-change coins, when a new copper coinage was issued for Jersey in 1841, it was based on a penny worth 1⁄13 of a shilling, the equivalent of 2 sous; this system continued until 1877. Along with the rest of the British Isles, Jersey decimalised in 1971 and began issuing a full series of circulating coins from 1⁄2p to 50p. £1 and £2 denominations followed later. As of December 2005, there was £64.7m of Jersey currency in circulation. A profit of £2.8m earned on the issue of Jersey currency was received by the Treasurer of the States in 2005. £1 coins have a different design each year. Each new coin featured one of the coats of arms of the 12 parishes of Jersey; these were followed by a series of coins featuring sailing ships built in the island.
The motto round the milled edge of Jersey pound coins is: Caesarea Insula. Jersey £1 coins ceased to be legal tender in Jersey on 15 October 2017 to coincide with the withdrawal of the circular £1 coin in the UK; the UK's new 12-sided £1 coin is the only £1 coin, legal tender in the Island. In 1834, an Order in Council adopted the pound sterling as Jersey's sole official legal tender to replace the Jersey livre, although French copper coins continued to circulate alongside British silver coins, with 26 sous equal to the shilling; because the sous remained the chief small-change coins, when a new copper coinage was issued for Jersey in 1841, it was based on a penny worth 1⁄13 of a shilling, the equivalent of 2 sous. In 1841, copper 1⁄52, 1⁄26 and 1⁄13 shilling coins were introduced, followed by bronze 1⁄26 and 1⁄13 shilling in 1866. In 1877 a penny of 1⁄12 of a shilling was introduced, the system changed to 12 pence to the shilling. Bronze 1⁄48, 1⁄24 and 1⁄12 shilling were introduced.
This was the only issue of the 1⁄48 shilling denomination. Between 1949 and 1952 the end of the German occupation of the Channel Islands was marked by one million commemorative Liberation pennies that were struck for Jersey. In 1957, a nickel-brass 3 pence coin was introduced carrying the denomination "one fourth of a shilling"; the 1957 and 1960 issues were round, with a dodecagonal version introduced in 1964. In 1968, 5 and 10 pence coins were introduced, followed by 50 pence in 1969 and 1⁄2p, 1p and 2 pence in 1971 when decimalisation took place. All had the same size as the corresponding British coins; the reverse of the first issue of decimal coinage bore the coat of arms of Jersey as had previous coins. The ½ penny coin was last minted in 1981. A square £1 coin was issued in circulation in 1981 to mark the bicentenary of the Battle of Jersey; the square pound could not be accepted by vending machines and was not issued after 1981 although it remains in circulation today. When the rest of the British Isles started to introduce a standardised pound coin in 1983, Jersey changed to a round coin to match.
The square version although rare is still used in the islands. Neither round nor square versions of the coin are as common in Jersey as the £1 note. 20 pence coins were introduced in 1982 and £2 coins in 1998. In 1797 Hugh Godfray and Company, a wine merchant, issued £ 1 notes. Due to the shortage of livre tournois coinage and companies issued a large number of low value notes until in 1813 the States laid down that notes had to have a minimum value of £1; until 1831, a large number of bodies and individuals in Jersey issued their own banknotes. The parishes of Jersey issued notes. Legislation in 1831 attempted to regulate such issues by requiring note issuers to be backed by two guarantors, but the parishes and the Vingtaine de la Ville were exempted from the regulatory provisions. Most of the notes were 1 pound denominations; these locally produced notes, which were issued to fund public works, ceased to be issued after the 1890s. During the German occupation in the Second World War, a shortage of coinage led to the passing of the Currency Notes Law on 29 April 1941.
A series of 2 shilling notes were issued. The law was amended on 29 November 1941 to provide for further issues of notes of various denominations, a series of banknotes desi