53. Sir WILLIAM LANE MITCHELLasked 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. CHURCHILLWith 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:
| £ | s. | |
| 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 WISEasked the Chancellor of the Exchequer if he proposes fixing a definite limit to the amount of the fiduciary issue?
§ Mr. CHURCHILLThe 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.