Sept. 30 (Bloomberg) -- The Bank of England will introduce a new 50-pound ($78) note in November that will feature enhanced security features, it said today.
The note will have portraits of Matthew Boulton, an entrepreneur who contributed to the rise of Birmingham as an industrial center, and James Watt, an engineer who made improvements in the steam engine. The two started a partnership in 1775 that lead to greater efficiencies in the engine and lowered running costs, according to information provided by the central bank in London.
Their portraits replace that of Sir John Houblon, the first governor of the central bank.
As of February 2011, the value of 50-pound banknotes in circulation was 9.9 billion pounds.
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