§ Mr. KELLAWAY
asked the Chancellor of the Exchequer if he will state the amount of gold held, the value of the notes in circulation, and the percentage of notes to gold of the Bank of England and the Imperial Bank of Germany on 31st December, 1913, and 31st December, 1914, respectively?
§ Mr. LLOYD GEORGE
The following figures, which have been compiled from general public sources of information, will perhaps be sufficient for my hon. Friend's purpose:—
Imperial Bank of Germany. December 31st, 1913. December 31st, 1914. £ £ Gold held 58,498,000 103,861,000 Notes in circulation 1,29,672,000 252,295,000
The Reichsmark is converted at 1s.
The gold coin held in the Banking Department is not shown separately in the returns. The amount of gold and silver coin so held was on 31st December, 1913, £1,108,614, and on 30th December, 1914, £461,475. The figures for the Bank of England do not, of course, include the currency note issue. On 30th December last the currency notes outstanding amounted to £38,478,164 and the coin and bullion in the Redemption Account was £18,500,000. The figure given above for the circulation of notes in Germany does not include the Treasury notes (Reichskassenscheine) or the new loan notes (Darlehnskassenscheine), against which no gold reserve is held. The amount of these notes in circulation is only published at irregular intervals.
Bank of England. December 31st, 1913. December 30th, 1914. £ £ Gold held in Issue Department 33,874,535 69,032,135 Notes in circulation 29,607,635 36,139,180