"The story of how the Island of Guernsey created its own money, without cost to the taxpayer, and established a prosperous community free of debt."
Debt-free paper money of the Guernsey States unbacked by gold. See also Chapter 7, including: "The Guernsey Market" --
http://www.archive.org/details/bankcharteractou00duncuoft The Bank Charter Act: Ought the Bank of England or the people of England to receive the profits of the national circulation? (1857)
by DUNCAN, Jonathan