Adam Smith Honoured

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From The Independent

The Governor of the Bank of England, Mervyn King, has announced that a portrait of Adam Smith will feature on a redesigned £20 banknote, to come into circulation next year. He is said to be the first Scot to be so honoured, although he is already on the £50 note issued by the Bank of Scotland. He replaces the composer, Sir Edward Elgar, who has been the face of £20 since 1999. The note will also show a picture of a pin-making factory and summarise Smith’s conclusions on the benefits of the division of labour.

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