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76. This pseudonym was used by a well known author in protests about a proposed change in the monetary system (7,12)
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76. This pseudonym was used by a well known author in protests about a proposed change in the monetary system (7,12)
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For more on marking an answer as the "Best Answer", please visit our FAQ.Under the pseudonym of Malchai Malagrowther, the novelist Sir Walter Scott wrote a series of letters for the Edinburgh Weekly Journal in February and March 1826 demonstrating the superiority of the Scottish banking system and the disastrous consequences that would follow the abolition of low denomination notes. Parliament was persuaded to think again and the ban was limited to England and Wales. As a result some Scottish banks have retained the right to issue banknotes and still do so today even though only the Bank of England does so in England and Wales.