AUSTRALIAN NOTES
PUBLIC’S LARGER HOLDING. INDICATIONS OF HOARDING. Some indication of hoarding of notes by tho Australian public since the end of March is revealed in the note issue returns of the Commons ilth Kink made each month. In tho existin'* sta*» of trade tho note holdings by the public should show little variation, but during April tho public increased its holdings by £702.753 and during May by £600.755. a t tai of £1,303,508 in two months. The movement, is shown in tho following figures of notes held by the public nt the dates given:—January* 26, £23,719.913; February 23, £23,094,711: March 30. £23.486.657; April 27. £24,189,410; May 25, £24.790,165. Tho hoarding, so far as the holder of the notes is concerned, is utterly valueless, comments the Sydney Morning Herald. Indeed, it is a dead loss to him. because were the notes placed on fixed deposit they could be earning interest. . No doubt those who have taken this course have been governed by the example of hoarding gold, but the cases are dissimilar. Gold retains its value and won’- be of v BO if it were taken out. of tho country. A note issued a year ago is no more valuable in Australia than a note issued to-day should inflation take place to-mor ow. Nothing i< gained by hoarding notes.
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 149, 26 June 1931, Page 12
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219AUSTRALIAN NOTES Wanganui Chronicle, Volume 74, Issue 149, 26 June 1931, Page 12
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