Complex sentence: Treasury notes had full legal tender status and were not convertible for gold through the Bank of England, replacing the gold coin in circulation to prevent a run on sterling and to enable purchases of raw materials for armaments production.
Split into simpler sentences: Treasury notes had full legal tender status and were not convertible for gold through the Bank of England. They replaced the gold coin in circulation to prevent a run on sterling and to enable purchases of raw materials for armaments production.