FEDERAL NOTE ISSUE.
A REMARKABLE INCREASE, There has been a remarkable increase in the Commonwealth note issue during the five years that have elapsed since the outbreak of war (states the Melbourne Age). Tn December, 1014. the total value of the Treasury notes in circulation in Australia was £10.831.4*17, against which amount the Treasury held 1 gold reserve of £7.087,'520, equal to about 40 per cent, of the unredeemed notes. At July 30 this year the note issue amounted to £35.400,896. while the gold coin held by the Treasury represented a sum of £24.308.413, equivalent f o 43 87 Per cent, of the notes in circulation. The actual number of the notes in circulation at the end of last month was 19.085,084, of which 13,108,310 had a face value of a sovoreisn. Notes bearing a value of £IOOO are not a finiilar sight to the average man in the street, but there are 20.022 rotes of this denomination in circulation. The ten shilling? note has secured a wide popularity, and over 4.000.000 have been circulated. 111 view of the present high price of silver the Treasure Department some, time ago considered the question of issuing a fis note, but nothing has so far been done in the matter,
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/TDN19190910.2.14
Bibliographic details
Ngā taipitopito pukapuka
Taranaki Daily News, 10 September 1919, Page 3
Word count
Tapeke kupu
208FEDERAL NOTE ISSUE. Taranaki Daily News, 10 September 1919, Page 3
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in