NEW BANK NOTES

Dominion, Volume 33, Issue 109, 1 February 1940, Page 8

NEW BANK NOTES

Issue By Reserve Bank

CHANGE IN DESIGN Distinctive Colourings The Reserve Bank of New Zealand announces that a new issue of bank notes will be released for circulation on and after February 6. Though this issue coincides with the centennial celebrations and embodies certain historical features, it is not intended merely to be a commemorative issue, but to replace gradually the existing Reserve Bank notes, which have always been regarded as of a temporary nature.

The new notes differ eonsiderabb from the present ones, both in size and dosi'ni, and fresh features have been embodied witli a view to affording the maximum protection to the ciuiency. Tho 10/- and £1 notes have been reduced to a size which, it is believed will be found to be more convenient lor tlie public, while the grading of the dimensions’of the various denominations is in line with modern practice and provides a further means ot distinguishing between one value and another. ... The introduction of a iio note win increase the range of denominations available and, although this note and the £5O note are of the same size, the possibilitiy of confusing has been avoided by providing markedly distinctive colourings in addition to completely different designs on the back of the notes.

Designs and Colours.

The basic colours of the notes are red for tire £5O, green for the £lO, blue for tho £5, mauve for thefl, and brown for the 10/- note. The general face design of the 10/-. £1 and £5 notes is not greatly dissimilar from that of the present issue, but a portrait of Captain Cook has been substituted for tha.t of King Tawhiao, while the profile head of the latter appears as a window watermark in the space occupied by the kiwi in the notes of the existing issue. . The design of tlie face ot tlie -I" and £5O notes depicts symbolically on the left-hand side the fore-part of a ship in full sail, partially obscured by the New Zealand coat-of-arms„ with a native canoe in tlie foreground. The portrait of Captain Cook is on the right, and the watermark head appears in the mainsail of tho ship. The designs on the backs of the notes are varied: they include an engraving of Mount Egmont with a dairy-farming scene in the foreground on tile £5O note, a sheep-farming scene on tlie £lO note, a view of Lake Pukaki and Mount Cook on the £5 note, a picture of H.M.S. Endeavour on tlie £1 note, mid a group illustrating the signing of tho Treaty of Waitangi on the 10/- note.

The signature on all the notes is that of the chief cashier of the Reserve Bank, Mr. T. P. Hanna. The Reserve Bank wishes to make it clear that the now issue is not intended to replace tho existing notes at once and that the latter are expected to remain In circulation for some considerable time. Further, as a measure of war-time economy, the public is again requested to handle notes with as much care as possible witli a view to prolonging their life in circulation.