12th July 1963
Jersey gets its first ever local bank notes
When Jersey needed to raise funds, it came up with a profitable wheeze: it would issue its first ever peacetime banknotes.
Although it might sound like it was trying to create money out of thin air, the plan had a sound financial basis. It would, in effect, be producing a new product – a printed slip of paper that just happened to be a banknote – that locals would ‘buy’ with the existing mainland currency they held. This would happen quite naturally when shops and businesses gave them change in local currency after accepting mainland notes.
The banks would accept the mainland currency when the businesses paid it into their accounts and the States would swap it for more local currency, thus giving the States the funds it needed to invest in UK government securities which, over time, would earn a profit that would contribute to the island economy.
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Other events that occured in July
Same-sex marriage becomes legal
- The States of Jersey voted in favour of marriage equality in February 2018 and the first same sex wedding took place in July.
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The British government offers St Catherine’s Breakwater to Jersey
- The States of Jersey officially accepted a ‘gift’ of St Catherine’s Breakwater from the British government in 1875.
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Queen Elizabeth II visits Jersey
- The Queen and Duke of Edinburgh began their 1957 tour of the Channel Islands by sailing in to St Helier on the Royal Barge.
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Jersey families camp on Ecrehous to repel the French
- When French fishermen looked set to invade Ecrehous, Jersey families owning huts there camped out to repel them.
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