45. Major BARNESasked the First Lord of the Treasury what is the face value of Treasury Notes issued and in circulation on 28thFebruary, 1919; what, if any, further issue is contemplated and the amount in face value; and what steps, if any, he proposes to take to reduce the number and amount of these notes in circulation?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)The amount of currency notes (including currency note certificates) outstanding on the 26th February was £314,804,681 10s. With regard to the latter part of the question, I would refer the hon. and gallant Member to the Report of the Committee on Currency and Foreign Exchange (Command Paper 9182 of 1918), and to the answer which was given to the hon. Member for West Woolwich on the 17th February.
§ Mr. BILLINGHave the Government now abandoned the idea of issuing 5s. Treasury Notes?
§ Mr. CHAMBERLAINMy recollection is that my right hon. Friend who preceded me in this office proposed to do that if the necessity arose. No such necessity has arisen.