Currency and Bank of England Notes.

Oral Answers to Questions — Coal Mining Industry. – in the House of Commons am ar 7 Rhagfyr 1926.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Mr Herbert Williams Mr Herbert Williams , Reading

46.

asked the Chancellor of the Exchequer were the currency note issue and the Bank of England note issue combined, what the total note issue would be; what would be the gold and silver holdings held as a reserve; and what would be the total fiduciary issue and the percentage rates of the same to the total note issue?

Photo of Mr Ronald McNeill Mr Ronald McNeill , Canterbury

As the reply contains many figures, I will with my hon. Friend's permission circulate it in the OFFICIAL REPORT.

Following is the reply:

Combining the figures in the weekly Bank Return and the Currency Note Statement for the week ending 1st December, the position shown is—

£s.d.
Bank of England Note Issue171,164,11000
Currency Notes etc. Outstanding284,493,689100
455,657,799100
Deduct, Bank Notes held for Currency Note Account56,250,00000
Net Total Note Issue399,407,799100
Gold Coln and Bullion151,414,11000
The Currency Note Statement includes £6,300,000 silver Coln but this is not reckoned as reducing the fiduciary issue
Total Fiduciary Issue£247,993,689100

The gold cover represents 37.91 per cent. Of the net total issue.