BANKING AND CREDIT.
Here is. the authority '"Croesus" asks for: Tho Currency and Xotcs Act, 19-28, permits •the Bank of England to issue notes to the extent of £200,000,000 without a gold backing, and this is known as the fiduciary; issue. If, us '•Croesus" says, the banks have the money (which they have not), why do they pay s note tax of U per cent. This would not t> necessary.' It is the trading banks which issut credit and cheques, not savings banks. TRUTH ONLY.
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Bibliographic details
Auckland Star, 2 September 1933, Page 8
Word Count
85BANKING AND CREDIT. Auckland Star, 2 September 1933, Page 8
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