Another interesting case of paper money which owed its inception to the needs of war is the Mafeking currency, issued by Baden-Powell during the famous siege by the Boers, which lasted from October 13, 1899, to May 17, 1900. The face value of the Mafeking notes was £1, 10s., 3s., and 1s., but copies now change hands at considerably enhanced prices.
The issue of paper money is no new idea; the French resorted to the practice in Napoleon's time, as they had also done during the life of the Republic which came into being on September 20, 1792. This latter body issued notes, termed "assignats," of five different denominations, ranging in value from about a sovereign to forty pounds. The assignats, it may be stated, were dishonoured by the succeeding Government, and people who held them lost their money. The writer possesses a few specimens which were given him, many years ago, by an old French lady whose family had fallen from affluence to humble circumstances solely through the dishonouring of these paper notes.
But the most interesting war currency which we have so far discovered is the obsidional money of the Great Rebellion of 1642-9. Historical data of this period is too well known to need repetition here, and it is sufficient to say that Charles, after he suffered defeat at Naseby, was forced to withdraw his troops to certain castles and towns throughout the land. From these strongholds he made occasional sallies, but a depleted exchequer always hampered his movements.
MONEY OF THE GREAT REBELLION, 1642-9.
(1. Newark sixpence—2. Colchester gold half unite—3. Pontefract two-shilling piece—4. Ormond half-crown—5. Dublin crown of Charles II.)
In order to obtain sufficient money to finance the Army, Charles begged the Universities of Oxford and Cambridge to give him their collections of plate, which he intended to melt down and recast as silver currency. "The University of Oxford and the majority of its colleges sent their plate, which was safely conveyed to the King, but that of the University of Cambridge was not sent, although many of the individual colleges contributed theirs. The treasures of St. John's and Magdalen, however, never reached their destination, but were seized by Cromwell whilst in transit to Nottingham."[26] Charles had many wealthy followers, however, and these were only too ready to help on the cause of the Royalists by sacrificing their silver ware.
[26] Dr. Nelson, "Obsidional Money of the Great Rebellion," p. 7.
With such supplies of metal the King was able to establish mints at Carlisle, Beeston Castle, Scarborough, Lathom House, Newark, Colchester, and Pontefract. The money supplied by these mints was used for paying the soldiers and buying material; it was also more or less honoured in the surrounding villages.
"The coins were usually struck upon irregular pieces of plate, cut from trenchers, platters, cups, etc., of silver, in place of being struck upon flans specially prepared by melting down the plate. This is only what one would expect, under the trying circumstances in which the various garrisons found themselves placed. That this was the case is clearly proved by the many examples existing, upon which traces of the original decoration are still visible, in some instances even, particularly upon examples issued at Scarborough, the rim of the dish being still to be seen at the edge of the piece."[27]