First Nine Years of Bank of England

On August I, according to Luttrell, ' the new bank it Ugina 
paid into the Exchequer £112,000, which they did 
by their Bank Bills, sealed with the seal of their 
corporation, being the Britannia sitting on a bank of 
money 2,' from which we may infer that the instalments 

to the Exchequer were paid gradually and 
in part at least in paper. Indeed the same authority 
tells us that on August 7 tallies were struck at the 
Exchequer for a million sterling, in order to pay 
the army, such tallies at the time answering some 
of the ends of Exchequer Bills.

http://archive.org/stream/firstnineyearsof00rogeiala/firstnineyearsof00rogeiala_djvu.txt