The list below comprises the Treasury banknotes from 1914 to 1928.  These banknotes were emergency issues in the beginning due the start of the First World War. The lowest denomination banknote at the time was the white £5 banknote. Gold sovereigns, silver and copper coinage circulating for every day use. Lower value banknotes (10s and £1) were introduced to alleviate the hoarding of gold and silver.