26 February - The Bank of England issues the first one-pound note in 1797

 

The introduction of one-pound notes by the Bank of England dates back to the late 17th century.

The first one-pound notes were indeed issued by the Bank of England in 1797 during a period of financial crisis. These early one-pound notes were introduced as a response to the shortage of metal coins, which were hoarded due to uncertainty about the economy and the French Revolutionary Wars. The use of paper currency, including one-pound notes, became more widespread as a convenient alternative to metal coins.