Australia One Pound banknote 1933 King George V

Commonwealth of Australia One Pound banknote 1933 King George V

Commonwealth Bank  of Australia 1933-1939 Issue

Obverse: Portrait of King George V at right. In the middle, on top, is the Coat of arms of Australia. Denominations in numerals are centered, in lower left and top right corners. In words is also centered and in lower right and top left corner. Signatories: Sir Ernest Cooper Riddle, Governor, Commonwealth Bank of Australia & Sir Henry John Sheehan, Secretary to the Treasury.
Reverse: Pastoral - (Pastoral scene – Shepherds tending sheep) artwork by Frank Manley based on bas-relief panels originally designed by artist Paul Raphael Montford. These panels represented various sectors of the Australian economic life. The nominal value £1 at left.
Watermark: Portrait of Captain James Cook in left oval, behind each signature.behind the signatures is an inscription "ONE POUND".
Size: 154 mm x 81 mm.
Printer: John Ash, Australian Note Printer, Melbourne, Australia.

  The 1933 series came to be known as the "Ash Series" after John Ash who succeeded Thomas Harrison as Australian Note Printer in 1927.

  A major difference was that the new notes no longer carried a Government promise to redeem the notes in gold coin. Instead they were specified to be legal tender in the Commonwealth and its Territories.
  Australia formally departed from the gold standard at the height of the Great Depression in the early 1930s. Following devaluation in 1931, the Australian pound was no longer worth a pound sterling. Until then British coin had circulated freely in Australia.
  The Commonwealth Bank Act of 1932 made Australian Banknotes no longer convertible into gold. Indeed, the Bank was not required to keep any gold reserves.

  The opportunity was taken with this change to reduce the size of the note to a more manageable size. Other innovations were the addition of an oval displaying the watermark profile of the Prince of Wales (later to become famous as the King who abdicated - Edward VIII) , and another watermark – ONE POUND – behind each signature.

Australian banknotes - Australia paper money

Commonwealth Bank  of Australia

ND (1933-1939) King George V facing front

Half Sovereign = 10 SHILLINGS   Half Sovereign = TEN SHILLINGS red overprints
     
10 Shillings       One Pound       5 Pounds       10 Pounds       100 Pounds