§ 48. Sir EDMUND TURTONasked the Chancellor of the Exchequer whether he is aware that there are 56,250,000 Bank of England notes in the currency notes reserve; whether the retention of these Bank of England notes constitutes any charge upon the Treasury and, if so, how much and in what account is it to be found; whether the Bank of England receives remuneration from the Treasury in respect of the deposit of these notes; and, if so, in what manner and to what extent?
§ The CHANCELLOR of the EXCHEQUER (Mr. Churchill)The Currency Note Redemption Account contains £56,250,000 in Bank of England notes. No charge upon the Treasury is involved, nor does the Bank of England receive any remuneration in connection therewith.