PREVIEW: BRITISH & IRISH BANKNOTES 27 JULY

Few Chief Cashiers of the Bank of England can have been as dedicated to their task as Abraham Newland (c.1730-1807). Holding the post from 1782 until the year of his death, he made a point of sleeping at the bank for the entire quarter century.

Such was his association with the bank in the public’s mind that banknotes were referred to as Abraham Newlands because without his signature they were non-negotiable.

 

The nickname was even celebrated in song as follows: “Sham Abram you may, In any fair way, But you must not sham Abraham Newland.”

Newland had begun life fairly modestly as the son of a miller and baker in Buckinghamshire who had 25 children in all by two wives.

Although he slept at the bank, he took a daily drive to Highbury Place, where he owned a house, to take tea and walk.

Owing to growing infirmity, in 1799 Newland was forced to delegate some of his responsibilities to one of his assistants, the cashier Robert Aslett, whom he had known for over 20 years.

Aslett assumed responsibility for managing the purchase of exchequer bills, some of which he began to embezzle. Caught and put on trial at the Old Bailey, Newland had to give evidence against him, a burden that is thought to have accelerated his decline.

Newland resigned his position in September 1807, refusing an annuity – he had his own fortune to fall back on – but accepting a 1,000-guinea service of plate. He never took delivery of it, however, as he died just two months later, bequeathing significant legacies to his family.

Self-effacing to the last, he wrote the following modest epitaph for his own gravestone: “Beneath this stone old Abraham lies; / Nobody laughs, and nobody cries. / Where he has gone, and how he fares / Nobody knows and nobody cares.”

This sale includes several Newland notes, the pick of which is a £1 note dated 30 September 1806, with the hand-written serial number 18993. With the signatures of other cashiers, it is in fine condition apart from some staining. Presentable for such a rare note, the estimate is £3,000-4,000.