Important British, Scottish and World Paper Money

Foreword

By the early 19th century 13 different banks had offices in Glasgow, but only four .had a local element as the economic power in Scotland resided in Edinburgh. In 1830 the Glasgow Union Banking Co was established as the first of four new banks to emerge in the city over the next decade. Amalgamations followed with the Thistle Bank, Sir William Forbes, James Hunter & Co, the Paisley Union Bank, Hunters & Co of Ayr and the Glasgow & Ship Bank. In May 1843 the bank title was changed to the Union Bank of Scotland, with joint head offices in Glasgow and Edinburgh. Further amalgamations followed with the Aberdeen Banking Co in 1849 and the Perth Banking Co in 1857, by which time the bank had the country's largest branch network. The first notes were printed by W.H. Lizars and the names of the constituent banks were included in the border design. After 1850 the printing contract was taken over by Perkins, Bacon & Co and retained by them until the early years of the 20th century.

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