The issuing bank would be driven out of business if it didn't. They all were using fractional reserve banking so if you have a big player that's demanding gold from you you're in trouble.

发行纸币的银行将会被驱逐出银行业,如果它不这么做，它们都采取,部分准备金银行制度，所以如果你有一个对手,一直向你索求金子，你会陷入大麻烦的。

耶鲁公开课 - 金融市场课程节选

who were also issuing notes would leave their would keep a deposit with the Bank of England.

同时也在发行纸币的银行,要向英格兰银行付保证金。

耶鲁公开课 - 金融市场课程节选

Because the Bank of England could then demand all the it could start accumulating notes from some issuing bank and then demand payment in gold.

因为英格兰银行那时可以,要求所有的，它可以开始从一些纸币发行银行,收集些发行的纸币之后再要求以金子的形式偿还。

耶鲁公开课 - 金融市场课程节选

You have lots of banks; the banks are taking in gold and issuing notes but they are forced by the Bank of England to keep a deposit at the Bank of England.

英国有很多家银行；,它们吸入金子并且发行纸币,但是它们都被英格兰银行强迫,在英格兰银行付保证金。

耶鲁公开课 - 金融市场课程节选