Hoarded Money Now Coming Back Into Circulation in Britain
N.Z.P.A. Special Correspondent Rec. 8 p.m. LONDON, Dec. 1. The Daily Express says that during the past week nearly £8,000,000 in notes has been paid into banks by people who fear the Government will cancel the present note issue. In the past fortnight, the banks estimate that £20,000,000 in hidden money has been restored to circulation. It is considered that much of this money represents the proceeds of black-market deals which have been hidden from income tax collectors. Fifty and £IOO notes, which have not been legal currency for the past two years, are being presented. The Treasury estimates that £50,000,000 is still being hoarded.
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Otago Daily Times, Issue 26633, 2 December 1947, Page 5
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114Hoarded Money Now Coming Back Into Circulation in Britain Otago Daily Times, Issue 26633, 2 December 1947, Page 5
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