FEDERAL NOTE ISSUE

Dominion, Volume 12, Issue 285, 28 August 1919, Page 6

FEDERAL NOTE ISSUE

A REMARKABLE' j'NOBEASE, Tljere has been a remarkablo increase Sn the Commonwealth note issue during the five years that havo elapsed since tho outbreak of war (states the Melbourne "Age"). In December, 1914, tho total value of the Treasury notes in circulation in Australia was against which amount tho Treasury held ft gold reserve of AT,987,626, equal to j about 10 per cent, of the unredeemed" ' note. At July SO this year the note issue amounted to .£55,400,8%, while the gold coin hold by the Treasury represented a sum of equivalent to 43187 per cent, of tho notes in circulai tion. The actual number of the notes * in circulation at tho end of last month was 19,085,084, of which 18,108.316 had a face value of a sovereign. Notes bearing £ value of ifilOOO are not a familiar sight to the'averago man in the street, but there are. 26,022 of this denominat'o'l in" circulation 1 . 1 ' The ten shillings ioto has. secured a wide popularity, and .(jWr 4,000,000 iiave )>mu circulated. In Mw of the present, high price of silver •toe Treasury Department eomo timo ago tendered the (juestign of issuing a w. coto. fait nothing 'h0,9-so fa» been done •yffi tha ma6tes.