NEW BANK NOTES

Wairarapa Daily Times, 20 July 1934, Page 4

NEW BANK NOTES

ISSUE NEXT MONTH. From Ist August the public will be handling crisp, new notes of the Reserve Bank of New Zealand. Bundles of £1 and 10s denominations have already been distributed by the Reserve Bank to the offices of the trading banks in the main centres. The trading banks will bo responsible for placing a supply with all branches, ready for issue on Ist August, The issue has the unofficial approval of bankers, who are judges of the practical value. Both the £1 and 10s notes are of the same size, about that of the ordinary note now in circulation, and both have a colouring which makes imitation difficult. The paper is strong, and the notes should be easy to handle. The 10s note is the more striking, the prevailing shade being a warm henna, which merges to pastel shgdcs in the centre, with a diffusion of jade green. The £1 note is done in deep mauve, again with the pastel effect in the centre. The colouring is effective, and at the same time tends to discourage forgery. When the new notes are issued, the familiar notes of the trading banks will be withdrawn from circulation as they are presented. On the completion of the change-over, the work of cancelling worn notes will lie.with the Reserve Bank. This is likely to lead .to a cleaner note issue, as the distributing and issuing processes will be divorced.