Adam Smith：The Wealth of Nations, Book II, Chapter II, Paragraph 808

In the paper currencies of Yorkshire, the payment of so small a sum as 6d. sometimes depended upon the condition, that the holder of the note should bring the change of a guinea to the person who issued it; a condition which the holders of such notes might frequently find it very difficult to fulfil, and which must have degraded this currency below the value of gold and silver money. An act of parliament, accordingly, declared all such clauses unlawful, and suppressed, in the same manner as in Scotland, all promissory notes, payable to the bearer, under 20s. value.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter II, paragraph 808 · Verified：2026-10-19 · Verification：Exact match

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