Some people were raising their voices when the Bank of England started circulating new £20 banknote* in 2007, as it featured the portrait of Adam Smith, who is Scottish.
However the irony is, the Bank of England was found by a Scottish banker William Paterson in 1694. Even more bizarrely, Bank of Scotland was found by an English banker John Holland in 1695.
Acts of Union, which united England and Scotland, was passed in 1707, not so long after the establishments of the two central banks.
* It is the first of the Series F banknotes to be issued by the Bank of England. The second banknote is to be issued in late 2010, which will be £50 banknote.
The old £20 banknote (Series E), featuring Edgard Elgar is going to be withdrawn from the circulation in 30 June 2010.
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