§ 33. Mr. Hannanasked the Chancellor of the Exchequer if he is aware that eight different types of £5 banknotes, some of them very similar in size and colouring to £1 notes, are in use in Scotland, and are causing inconvenience and disputes among the public, shopkeepers and business houses; and if he will introduce legislation to remedy this.
§ Mr. MaudlingI do not think that such legislation would be appropriate.
§ Mr. HannanWhile agreeing, on reflection, that legislation is not necessary, may I nevertheless ask the Chancellor whether he is aware that the chairman of the Glasgow Savings Bank, at the annual meeting, was highly critical of the fact that 20 notes—not eight as in my Question—of 11 different sizes —£1 and £5 notes—are being circulated in Scotland, leading to wasteful man-hours in the bank? Will the Chancellor consider consulting the Joint Stock Banks and the Bank of England to try to come to an amicable agreement after their long-drawn-out talks in this matter?
§ Mr. MaudlingThis is a familiar problem, but the Scottish banks have had the right to issue notes ever since 1845, and I think that I should be a bold man if I tried to interfere with it now.