From its inception over 300 years ago, The Bank of England has acted as the central bank of the UK. The past centuries have seen many changes, not just in the role of the bank, but also in the design of our banknotes; from the first hand written bills of exchange through to the complex and sophisticated designs seen today.
2007 witnessed a historically significant change in banknotedesign with the launch of a new twenty-pound note. This note is just the first in a whole new series of banknotes soon to be released by The Bank of England. The reverse of the new style twenty poundnote, shows the portrait of Scottish philosopher Adam Smith. His most influential work, 'An Inquiry into the Nature and Causes of the Wealth of Nations' (1776), has led him to be regarded as the founder of classical economics and one of the spiritual fathers of capitalism. He is also the first Scotsman ever to appear on a Bank of England note.
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