BANKS HOLDING NOTES
SILVER BEING PAID OUT RESULT OF TAX INCREASE Press Association WELLINGTON, Tuesday. It is understood that the banks are restricting the issue of 10s notes, and jje paying out silver instead. While the general public is as yet probably unaware of the change, it has become evident to a number of business houses during the last few days. No official statement from the banks !? available, but it is understood that heir action in restricting the issue of 108 uotes is due to the recent increase t* 11 i G banknote duty from 3 per cent. ° 4J per cent, per annum, which it 8 cia inied will mean a substantial loss h tne present average note issue of the banks.
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Bibliographic details
Sun (Auckland), Volume IV, Issue 1067, 3 September 1930, Page 1
Word Count
122BANKS HOLDING NOTES Sun (Auckland), Volume IV, Issue 1067, 3 September 1930, Page 1
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