Case studies

The Guernsey Experiment

Between 1816 and 1836, Guernsey benefitted from a supply of state- issued money.


At the beginning of the nineteenth century, as a result of the Napoleonic wars, the trade of Guernsey was practically extinguished and the people were in despair. The Government could not obtain the necessary funds, either by taxation or by borrowing, and provided that labour and materials were available, as they were, there was nothing to prevent the Government issuing its own money. This it did, with the result that the appearance of the island changed out of all recognition. From its backward and depressed state it became, within 20 years, renowned for its well-being.


The following extract is from the book "The Guernsey Experiment" by Olive and Jan Grubiak > The Guernsey Experiment

What brought it to an end? You've guessed it - private banks! as shown in this report from 1938


Lincoln's 'Greenback' dollars

See Lincoln's Greenbacks


Hawarden Scrip

See Hawarden scrip