An Example of Communal Currency: The facts about the Guernsey Market HouseHarris, Joseph Theodore
History
An Example of Communal Currency: The facts about the Guernsey Market House
Harris, Joseph Theodore
Finance -- Guernsey; Paper money -- Guernsey
A Committee, appointed 12th April, 1815, to consider the question,
having brought in a scheme for enlarging the Market, recommended the
issue of State Notes. The Bailiff submitted the following resolution for
the consideration of the States at their meeting on 29th March,
1816:--"Whether in order to meet the expenditure it would not be
desirable to issue State Notes of One Pound each (_Billets des États
d'une Livre Sterling_) up to £6,000, the States undertaking not to issue
any, under any pretext whatever, beyond the said sum before having
previously cancelled the said £6,000."
Notwithstanding the Committee's opinion that the enlargement of the
Market could not be recommended without this issue, and the precautions
suggested for the issue of the Notes, the States rejected the
proposition.
However, the promoters of the idea appear to have been nothing daunted,
and to have met with success on their second attempt. For we find that
on the 17th October of the same year the Finance Committee reported that
£5,000 was wanted for roads, and a monument to the late Governor, while
only £1,000 was in hand. They recommended that the remaining £4,000
should be raised by State Notes of £1, 1,500 of which should be payable
on 15th April, 1817, or any Saturday after by the Receiver of the Duty,
1,250 on 15th October, 1817, and 1,250 on 15th April, 1818.
"In this manner, without increasing the debt of the States, we can
easily succeed in finishing the works undertaken, leaving moreover in
the coffers sufficient money for the other needs of the States."
The States agreed to this and appointed a Committee of three (Nicolas
Maingy, Senior, Jean Lukis and Daniel de Lisle), who were exclusively
charged with the duty of issuing the Notes, taking all the precautions
they thought necessary. They were to pay them out on the order of M. le
Superviseur (Jean Guille), and to receive them back from the Receiver of
the Duty when paid in, in order to cancel them.
These Notes seem to have served their purpose; for in the record of the
decisions of the States on the 18th June, 1818, is found the following
entry:--"The said States unanimously authorise the issue of new Notes up
to £1,250, to be put at the disposal of Jean Guille, Esq., Jurat, for
the needs of the State; and they ask the said gentlemen, Daniel de
Lisle, Nicolas Maingy and Jean Lukis, kindly to help in the matter.
Which Notes shall be payable at a fixed time to be determined by the
States' Committee named for this purpose at the time of the last issue
of Notes."
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account