10 Pounds Bank of Scotland

Bank of Scotland issued notes in this period under its own authority as one of Scotland's three chartered banks of issue — a right it has held continuously since 1695. The £10 denomination was never a note of everyday commerce; at 1930s wage levels it represented a week or more of skilled earnings, which kept these squarely in banking and commercial use rather than retail circulation. That limited handling is why the series survives in relatively sound condition more often than the lower values.

G. Waterston & Sons were Edinburgh stationers and security printers with a long relationship with the bank. Their work on this series predates the postwar consolidation that would eventually push Scottish commercial printing contracts toward larger firms.