The Bank Notes Bill.
(feu press association). , Sydney, November 21. [ In connection with tbe Bank Notes Bill which comes on in the Legislative 1 Assembly for the second reading tor morrow, the Premier has had a return prepared which shows that the trade of . the colony does not absorb at any one ' time more than two million pounds worth of bank notes, and according to the latest returns the banks hold specie of the ' value of £5,697,000, and other assets of the value of £44,656,000, with which to secure 2 million of notes. None of this security under the new Bill will be desI troyed until the bank notes are redeemed as the notes will be a first charge. At ] present 2,020,000 sovereigns are being moved about from branch to branch at a great cost to meet liabilities which may accrue, and making notes a legal tender in the country will avoid this.
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Bibliographic details
Feilding Star, Volume XV, Issue 122, 21 November 1893, Page 2
Word Count
153The Bank Notes Bill. Feilding Star, Volume XV, Issue 122, 21 November 1893, Page 2
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