October 27, 2006
Can the Van Morrison banknote be far behind?

The last three provinces on earth where commercial banks are still allowed to issue notes are Scotland, Northern Ireland, and Hong Kong. Last year the Royal Bank of Scotland produced a limited-issue banknote to honor Jack Nicklaus on the occasion of his last British Open. On Thursday Northern Ireland's Ulster Bank announced that it would be issuing a new note (limited to 1 million pieces!) to commemorate native soccer legend George Best, who died one year ago. This is the bank’s first commemorative banknote.

HT: Capital Chronicle

Posted by Lawrence H. White at 01:26 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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