> No English person would be hurt if every English person accepted Scottish notes at par; This is true up until the point one of the banks goes bankrupt, espec

> No English person would be hurt if every English person accepted Scottish notes at par; This is true up until the point one of the banks goes bankrupt, especially if they were found to have printed a whole lot of notes not backed by central bank reserves. In practice, I strongly suspect the government would step in and accept the notes directly if that ever happened.