NEW NOTES FOR OLD

Evening Post, Volume CXXIX, Issue 27, 1 February 1940, Page 9

NEW NOTES FOR OLD

RESERVE BANK ISSUE

CAPTAIN COOK'S PORTRAIT

The Reserve Bank of New Zealand aniro.unces that a new issue of banknotes will be released for circulation on -and after February 6. Although 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 considerably from the present ones, both in size and design, iand fresh features have been embodied .with a view to! affording the ihaxihium -protection Jo the currency. The 10s and £1 notes have been reduces to a size which, it is believed, .Will ■-be found to be more convenient for the public, whilst the grading of the dimensions of the various denominations is in line with modern practice and provides a further means of distinguishing between one value and another. A £10 ISSUE. The introduction of a £10 note will increase the range of denominations available, and, although this note and the £50 note are of the same size, the possibility of confusion has been avoided by providing markedly distinctive colourings in addition to completely different designs on the back of the notes. The basic colours of the notes are red for the £50, green for the £10, blue for the £5, mauve for the £1, and brown for the 10s note. The general face design of the 10s, £1, and £5 notes is not greatly dissimilar from that of fhe present issue, but a portrait of Captain Cook has been substituted for that of King Tawhiao, whilst 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 the face of the £10 , and £50: notes depicts symbolically on the left-hand side the forepart of a ship in full sail, partially obscured by the New Zealand coat-of-arms, with a Native canoe in the foreground. The portrait of Captain Cook is on the right, and the watermark head appears in the mainsail of the ship. -~<-,._■ CHANGE OF SIGNATURE. The designs on the backs of the notes are varied: they include an engraving of Mount Egmont with a dairyfarming scene in the foreground on the £50mote, a sheep-farming scene on the £10 note, a view of Lake Pukaki and Mount Cook on the £5 note, a picture of H.M.S. Endeavour on the £1 note, and a group illustrating the signing of the Treaty of Waitangi on the 10s note. The signature on all the notes is that of.: the >Chief Cashier, - Mr. •T. P. Hanna. "IPhe Reserve 'Bank wishes to make it clear .that the new issue is not. in:ter_ded to replace t.he'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 are again requested to handle notes with as much care as possible with a view to prolonging their life in circulation.