§ 46. Mr. H. WILLIAMSasked the Chancellor of the Exchequer were the currency note issue and the Bank of England note issue combined, what the total note issue would be; what would be the gold and silver holdings held as a reserve; and what would be the total fiduciary issue and the percentage rates of the same to the total note issue?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Ronald McNeill)As the reply contains many figures, I will with my hon. Friend's permission circulate it in the OFFICIAL REPORT.
§ Following is the reply:
§ Combining the figures in the weekly Bank Return and the Currency Note Statement for the week ending 1st December, the position shown is—
| £ | s. | d. | |
| Bank of England Note Issue | 171,164,110 | 0 | 0 |
| Currency Notes etc. Outstanding | 284,493,689 | 10 | 0 |
| 455,657,799 | 10 | 0 | |
| Deduct, Bank Notes held for Currency Note Account | 56,250,000 | 0 | 0 |
| Net Total Note Issue | 399,407,799 | 10 | 0 |
| Gold Coln and Bullion | 151,414,110 | 0 | 0 |
| The Currency Note Statement includes £6,300,000 silver Coln but this is not reckoned as reducing the fiduciary issue | — | ||
| Total Fiduciary Issue | £247,993,689 | 10 | 0 |
§ The gold cover represents 37.91 per cent. Of the net total issue.