Tate’s Invasion occurred in 1797. The French force, led by Colonel William Tate, was the last time a foreign force landed on British soil. The French force ultimately surrendered to British forces but the invasion led to the suspended conversion of banknotes issued by the Bank of England into gold.
In order to issue some sort of value for the notes the bank commissioned a prominent gun manufacturer, Matthew Boulton, to produce copper pennies. He received the contract because his facility was the only one able to produce to coinage in the amounts the bank needed. To gain the public’s trust in the new coins the government issued them as payment to members of the army and navy. This served to bind the England’s economy to their ongoing war efforts.
