§ 68. Sir F. WISEasked the Chancellor of the Exchequer the pre-War currency per head of the population and the currency 41 per head of the population on the 31st March, 1927 (notes and gold)?
ESTIMATED CURRENCY PER HEAD IN THE UNITED KINGDOM AND IRISH FREE STATE. | |||||||||
— | 30th June, 1914. | 31st March, 1927. | |||||||
Amount. | Per head. | Amount. | Per head. | ||||||
£ | £ | s. | d. | £ | £ | s. | d. | ||
Bank of England Notes (a) | … | 29,784,000 | 12 | 11 | 81,703,000 | 1 | 13 | 11 | |
Currency Notes | … | — | — | 288,067,000 | 5 | 19 | 6 | ||
Gold Coin | … | 123,000,000(b) | 2 | 13 | 5 | —(c) | — | ||
Silver Coin | … | 34,000,000 | 14 | 9 | 52,000,000(d) | 1 | 1 | 7 | |
Bronze Coin | … | 8,000,000 | 3 | 4 | |||||
Total | … | 186,784,000 | 4 | 1 | 1 | 429,770,000 | 8 | 18 | 4 |
(a) Excluding notes held in the Bank of England Reserve and, in 1927, in the Currency Note Reserve. | |||||||||
(b) Estimate used by Cunliffe Committee (par. 13 of Interim Report). | |||||||||
(c) The amount of Gold Coin which may be in the hands of the public is unknown. | |||||||||
(d) Excluding Silver Coin held in Currency Note Reserve. |
§ 69. Sir F. WISEasked the Chancellor of the Exchequer, as the recent Whitsuntide demands brought the Treasury note issue to within about £1,000,000 of the fiduciary maximum, if he will consider setting up a Committee, to consider this technical financial problem?
§ Mr. McNEILLNo, Sir. There is nothing abnormal in the fiduciary circulation approaching the maximum at holiday time and there is no special problem involved therein.