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A: When this bank was founded in 1695, Scots coinage was in short supply and of uncertain value, compared with English, Dutch, Flemish or French coin.

B: In most countries it is only the government, through their central banks, who are permitted to issue currency.

C: To face growth of trade it was deemed necessary to remedy this lack of an adequate currency.

D: But in Scotland three banks are still allowed to issue banknotes.

E: The first Scottish bank to do this was the Bank of Scotland.