Bank of England 10s note longer and narrower, and were the first ten-shilling notes to feature a portrait of Queen Elizabeth II on the front. The reverse design incorporated the logo of the Bank of England. In the late 1960s it was decided that future banknotes should feature a British historical figure on the reverse. The first such note was the series D £20 note, first issued in 1970, featuring William Shakespeare. A design for a ten-shilling note featuring Walter Raleigh on the reverse was approved in 1964 but was never issued. Instead, in 1969, as part of the process of decimalisation, a new fifty
Bank of England resort for the first time in the panic of 1866. The last private bank in England to issue its own notes was Thomas Fox's Fox, Fowler and Company bank in Wellington, which rapidly expanded, until it merged with Lloyds Bank in 1927. They were legal tender until 1964. There are nine notes left in circulation; one is housed at Tone Dale House Wellington. Britain remained on the gold standard until 1931, when the gold and foreign exchange reserves were transferred to the Treasury; however, they continued to be managed by the Bank. During the governorship of Montagu Norman, from 1920