| 单词 | banknote |
| 释义 | banknote banknote An item of paper currency issued by a central bank. Banknotes developed in England from the receipts issued by London goldsmiths in the 17th century for gold deposited with them for safe-keeping. These receipts came to be used as money and their popularity as a medium of exchange encouraged the goldsmiths to issue their own banknotes, largely to increase their involvement in banking and, particularly, moneylending. Now only the Bank of England and the Scottish and Irish banks in the UK have the right to issue notes. Originally all banknotes were fully backed by gold and could be exchanged on demand for gold; however, since 1931 the promise on a note to ‘pay the bearer on demand’ simply indicates that the note is legal tender. See alsopromissory note. |
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