Note Issue Increases

Wanganui Chronicle, 16 December 1949, Page 10

Note Issue Increases

The increase in the note circulation usually noticeable before Christmas is revealed in the Reserve Bank statement for December 7. On that day the note issue was £55,883.440. compared with £54.050,745 seven days before, an increase of £1.832.695. The sterling funds fell by a further £888,617. The assets and liabilities of the bank as at December 7. with the weekly average of 1939 and 1948, were as follows:

Av Av. Week ended £N.Z. (millions) 1939 1948 Dec. 7 Liabilities— Reserve funds . 1.50 1.50 1.50 Bank notes 16.08 48.93 55.88 Demand liabiliWbs— State 9 7 7 13.23 9.11 Banks 10.75 57.71 73.59 Other .31 .38 .'i.l Other currencies .... .03 .07 .03 Other liabilities . . .47 3.54 3.97 Assets — Reserve— Gold 2. SO 2.80 3.79 Sterling 5.31 65.09 38.73 Subsidiary coin .. ■>o .10 .15 Advances to Stale— Marketing 6 09 1.70 3.95 Other 13.59 3.5.18 44.00 Other advances .06 5.09 Investments 3.6G 10.50 48.09 Other assets .. 7.55 * Ratio, p.c 27 UU 56.52 30.56 •Proportion of reset Ve to notes ant other demand liabilities.