§ 41. Mr. DAVID MASONasked the Chancellor of the Exchequer whether, in accordance with Sub-section (4), Section 1, of the Currency and Bank Notes Act, the Treasury will now gradually call in the currency notes outstanding as therein provided?
§ Mr. LLOYD GEORGEThe Section referred to by my hon. Friend is permissive only, and it would, in my opinion, be contrary to public policy to exercise the powers conferred by it at the present time. Steps will, however, be taken at an early date to call in the original issue of currency notes, and substitute for them notes of the new pattern.
§ Mr. D. MASONIs the right hon. Gentleman aware of the effect of the non-retirement of these currency notes?
§ Mr. LLOYD GEORGEYes; that has been considered very carefully.
§ Mr. D. MASONIn view of the unsatisfactory character of the right hon. Gentlemen's reply, I beg to give notice that I shall raise this matter on the Motion for the Adjournment.