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POUND NOTES PREFERRED

A year or two back, when gold was a commodity of which one saw little, people would readily buy a sovereign at a couple of shillings premium, if only for the sako of holding it. But now that the sovereign is currency again in Sydney, although it is not yet in general circulation as of old, there appears to be a preference for the pound note, dirty as it sometimes is, because of the fact that it is more convenient to handle. Sovereigns, were plentiful during the visit of the 'American fleet. Even the sailora whose pockets were bulging with them, found them awkward to carry and readily changed them for notes. Hundreds of sovereigns found their way, through the sailors, into Sydney hotels. The licensee of the most strategically-situated hotel in Sydney on the occasion of the fleet—aptly named the First and Last, it caught the sailors coming and going down at the Quay—had sovereigns literally raining upon him. Awkward to carry, inconvenient to handle, he was glad to see them back in the vaults of the bank. One day alone he had to bank 400 of them. And he seemed to be as happy as a sandboy to get rid of them, and to see the old notes passing over the bar once more. A few customers asked for gold, just to take home to show the wife, but the general inclination was to avoid it.

One of the big hotels in Pitt street took 500 bright shining sovereigns within a couple of days of the arrival of the fleet, but, in common with most of the gold that passed over tha bars in those hectic days, they have disappeared back into the vaults. Shopkeepers, also saw a good deal of the sovereigns which went on their happy round when the fleet was here, but of these golden tokens the general public did not see a great deal. Hero and there they have had a brief circulation, hut the pound note is still the fashionable iiml popular form of currency. Thp publicans, who saw most of Mir> sovorciens in circulation during the llncl/s visit, ivcru glitd to get rid of them agnin.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/EP19250827.2.113.3

Bibliographic details

Evening Post, Volume CX, Issue 50, 27 August 1925, Page 9

Word Count
367

POUND NOTES PREFERRED Evening Post, Volume CX, Issue 50, 27 August 1925, Page 9

POUND NOTES PREFERRED Evening Post, Volume CX, Issue 50, 27 August 1925, Page 9