HC Deb 27 June 1927 vol 208 cc40-1
68. Sir F. WISE

asked the Chancellor of the Exchequer the pre-War currency per head of the population and the currency per head of the population on the 31st March, 1927 (notes and gold)?

The FINANCIAL SECRETARY to the TREASURY (Mr. Ronald McNeill)

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. WISE

asked 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. McNEILL

No, Sir. There is nothing abnormal in the fiduciary circulation approaching the maximum at holiday time and there is no special problem involved therein.