53. Sir WILLIAM LANE MITCHELL
asked the Chancellor of the Exchequer the amount of Treasury notes in circulation on the 1st of January in each year since they were first issued?
§ Mr. CHURCHILL
With my hon. Friend's permission, I will circulate the figures in the OFFICIAL REPORT.
§ Following are the figures:
§ The following amounts of currency notes and currency note certificates were outstanding on the first Wednesday in January in each year since 1915 inclusive; namely:
|6th January, 1915||37,971,113||0|
|5th January 1916||103,040,351||10|
|3rd January 1917||148,770,440||0|
|2nd January 1918||212,450,950||10|
|1st January 1919||323,240,501||0|
|7th January 1920||347,995,732||0|
|5th January 1921||357,938,395||0|
|4th January 1922||318,133,821||10|
|3rd January 1923||293,894,189||0|
|2nd January 1924||291,263,999||0|
|7th January 1925||291,667,060||0|
|6th January 1926||292,616,691||10|
§ 63. Sir FREDRIC WISE
asked the Chancellor of the Exchequer if he proposes fixing a definite limit to the amount of the fiduciary issue?
§ Mr. CHURCHILL
The fiduciary issue of currency notes is already limited to the highest figure reached in any week in the previous year. For 1926 the limit is £247,902,549. If my hon. Friend has in mind the question of the regulation of the fiduciary issue after the transfer of the currency note issue to the Bank of England, I have already explained that the question will not, arise for decision for a considerable time to come, and that when it does arise it will require legislation.