TEN SHILLING BANK NOTES
RESTRICTING ISSUE. BANKS’ REPLY TO NOTE TAX. Wellington, Sept. 3. It is understood that the banks are restricting the issue of ten shilling notes .ind are paying out silver instead. While the general public are as yet probably unaware of the change it has become evident to a number of business houses during the last few days. The action of the banks will become increasingly evident, however, as the number of ten shilling notes in the hands of the public diminishes and the latter have to accept and carry silver instead of the handy ten shilling note. No official statement from the banks is available, but it is understood that their action in restricting the issue of ten shilling notes is due to the recent increase in the bank note duty from 3 per cent, to 41 per cent. Which it is claimed will mean a substantial loss on the present average note issue of the banks.
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https://paperspast.natlib.govt.nz/newspapers/MH19300904.2.19
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Manawatu Herald, Volume LI, Issue 4500, 4 September 1930, Page 3
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161TEN SHILLING BANK NOTES Manawatu Herald, Volume LI, Issue 4500, 4 September 1930, Page 3
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