AUSTRALIAN BANK NOTES.
INCREASE IN CIRCULATION.
There has been a remarkable increase in the Commonwealth note issue during the five years of war. In December, 1914, the value of the Treasury notes in circulation in Australia was £19,831,417. against wnich am.unt the Treasury held a gold reserve of - £7,987,526, equal to about 40 per cut. of the unredeemed notes. At July 30 this yea: the note issue amour ted to £55,4c6 896, while the gold coin held by the Treasury represented £21,308,413, equivale i to 43.87 'per cent, of the ntte3 in escalation. The actual number of the rotes in circulation at the end of July was 19,065,084, cf which 13,108,316 had a face value of a sovereign. There are 26 022 notes of £1000 m circulation. Tie ten shillings note has secured a wide popularity, and over 4,000,000 have been circulated.
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Bibliographic details
New Zealand Herald, Volume LVI, Issue 17253, 1 September 1919, Page 8
Word Count
142AUSTRALIAN BANK NOTES. New Zealand Herald, Volume LVI, Issue 17253, 1 September 1919, Page 8
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