How did goldsmiths increase the money supply?

Money supply means the availability of money in the economy. The increase in the money supply means the increase in the availability of money in the economy. When talking about the increase in the money supply of an individual, it means the increase in the money of that person. Goldsmiths is a jewelry retailer who sells luxurious gold sets to the consumers. They have more than 120 showrooms in Great Britain and Ireland. They started to lending out part of their customer's gold by printing receipts in excess of actual gold holdings.

Goldsmiths increased money supply by cheating out their competitors, and being the best at what they did.