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“The Queen coined new money specifically for the Company {East India}. Minted at the Tower of London and bearing her arms on one side and a portcullis on the other, it soon became know as the portcullis money. She also granted the merchants a new flag which, with its blue field and background of thirteen red and white stripes, prefigured the one adopted by the Thirteen Colonies of America some 175 years later.” — Giles Milton
The Queen coined new money specifically for the Company {East India}. Minted at the Tower of London and bearing her arms on one side and a portcullis on the other, it soon became know as the portcullis money. She also granted the merchants a new flag which, with its blue field and background of thirteen red and white stripes, prefigured the one adopted by the Thirteen Colonies of America some 175 years later.