One-pound banknote

This one pound banknote was issued by the Air Bank, as Douglas, Heron and Co. was known. It is dated 1 August 1780. The company's name is derived from the spelling of Ayr on its banknotes.

One-pound banknote, Douglas Heron and Company, 6 November 1769

The Air Bank was opened in Ayr in 1769. It was one of the few Scottish banks to fail badly. Its collapse in 1771 disastrously affected many of its customers, but the Scottish economy was strong enough to hold off a more general crisis.

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