Guernsey is a small island located in the English Channel. An Anglo-Norman population. This island is located closer to the French coast than to the English one.
At the close of the Napoleonic wars, the island, like several countries, was in pitiful condition, both physically and financially.
No money
Sea walls, roads, markets were needed.There was no manpower shortage. but there was no money to pay for these works.
The money used by the people on the island was the money from England, the pound sterling. But, like after any war, the financiers were calling back the money advanced to finance the slaughter, and the pounds sterling were very scarce everywhere.
The island had an autonomous government, “the States of Guernsey.” So it had the rights inherent in all sovereign government, among other rights, that of regulating the volume of money in circulation in the country. But, no more ethan any other country, the States of Guernsey had thought of exercising this sovereign prerogative.
