War and payment innovation: the adoption of paper currency in Britain

Created
Thu, 09/10/2025 - 19:00
Updated
Thu, 09/10/2025 - 19:00
David Rule Digital currencies and stablecoins have increased interest in how new forms of money are adopted. Looking to three episodes from the 1690s to the First World War, this post considers how paper currency replaced coin in Britain, an historical example of adoption of new money. The underlying drivers were not technological changes but … Continue reading War and payment innovation: the adoption of paper currency in Britain