ABSOLUTELY SAFE.
BANK NOTES IN NEW ZEALAND. In his report to the proprietors of the Bank of New Zealand in Wellington today, the chairman, Mr. William Watson, referred to the note circulation as follows: " All bants here issue their own notes secured by a holding of one-third in gold uad two-thirds in Government' securities. Over and above this backing, the notes ii.e a first charge on all the assets of the individual banks concerned. There can therefore be no question as to the safety of the notes, nor can there be inflation or deflation, as the notes in circulation are simply those required by the public foi Ui<«ir' a<Aual neede. " WLen in brink, works are in pro %i.kw, w ©pjege arjc iiigli, the t-irc-ulation it iiatui.ally latffw tijao in a d';!l perin-l. "•'XibC -and .yther - 1/:> '' : jyx;uH enable the i>ao}as jo iacreose tin fgf£sgm&M jw& Vn& & Rouble yfhaX U is yece tL&t nocctejiary/'
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Bibliographic details
Auckland Star, Volume LXII, Issue 143, 19 June 1931, Page 4
Word Count
153ABSOLUTELY SAFE. Auckland Star, Volume LXII, Issue 143, 19 June 1931, Page 4
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