SHARP RISE
} BRITISH NOTE CIRCULATION I I SIGNS of over-spending ; SOME FEARS OF INFLATION. .'By Telegraph—Press Association—Copyright) LONDON, November 6. The “Daily Express” city correspondent says that even those in city circles who normally do not heed the Bank of England return sat up and took notice when the bank announced today that the note circulation had jumped by £6,500,000 to a new peak of almost £700,000,000. “This accelerating rise in the currency issue is raising a doubt whether Sir Kingsley Wood was not overoptimistic when he sggested that inflation dangers were checked. The note circulation since the outbreak of the war has increased by £150,000,000. This alone is not a sign of inflation because the increase should have been offset by increase in national output, but combined with the fact that savings have not expanded proportionately it suggests that we are over-spend-ing. The extension of rationing would be the best means of dealing with this situation.”
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Wairarapa Times-Age, 8 November 1941, Page 6
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157SHARP RISE Wairarapa Times-Age, 8 November 1941, Page 6
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