NEW NOTES.

Dominion, Volume 6, Issue 1662, 31 January 1913, Page 6

NEW NOTES.

The issue of tho new Commonwealth notes, to take the place of the temporary notes countersigned by tho Federal Treasury, will, begin in March (says tho "Sydney' Daily Telegraph"). The delay is explained by the late arrival of tho machinery;. The process of printing and drying being a slow one, it will take pro-, bably to the end of the year before the 'banks are supplied up to their normal requirements. It is.intended to issue the notes iri all the ordinary denominations from 10s. upwards. Tho existing interim system of'notes is admitted to, be exceedingly unsatisfactory, as well as inconvenient to, the banks and the public, and there will be' general satisfaction when it is superseded by a note in each denomination of a particular and promptly recognisable type. About .£4,500,000 will have, to be printed before tho ordinary necessities' of the banks 'havo' been met. Tho automatic collection of the present notes, which is effected by the presentation .at:tlie bsjnks, will, after the first lots come in from the metropolitan areas, take months and even years. The, temporary Federal notes have now got into circulation all oyer the Commonwealth, and they mil have to filter slowly into metropolitan centres before they con bo wholly replacod by'tho new issues: