Mervyn King, the governor of the Bank of England, personally despatched to the college one of the pound;20 notes, below, put into general circulation this week to honour “the father of economics”, the first Scot to feature on a banknote.

It was the 10th of the millions of notes printed, no doubt a numerical coincidence given the prime ministerial aspirations of the local MP - Chancellor Gordon Brown.

Mr Brown has been instrumental in bringing big-hitters to deliver the college’s annual Adam Smith lecture - such as himself, Alan Greenspan, former head of the US Federal Reserve, and Mervyn King. When Mr King delivered the lecture last October, he announced that Adam Smith, who was born in Kirkcaldy where he began writing his epic Wealth of Nations 240 years ago this year, would be the first Scot to appear on a Bank of England note.

Craig Thomson, principal of the college, confessed it was a great surprise.

“Having Adam Smith appear on the pound;20 note is a very fitting tribute to his work. His influence on modern thinking is recognised throughout the world and, although he was born nearly 300 years ago, he is still making his mark in the world of finance. Not only was he a firm believer in education for all, he had strong beliefs in people and communities working together and this is what our college is all about.”