HC Deb 18 November 1941 vol 376 cc199-200W
Mr. Denville

asked the Chancellor of the Exchequer whether, in view of recent investigations having shown that transactions in the black market are invariably carried through by payment of £1 and 10s. notes which cannot be traced, he will issue regulations to instruct the branch banks to make a return each week to the Treasury or the Financial Department of the Ministry of Food of the withdrawals by clients amounting to £500 or over of such notes, or of withdrawals up to this amount by the same individuals in the course of that week, normal withdrawals by individuals and companies for payment of wages, etc., to be exempt, and to classify and note such unusual transactions for the purposes of this return and those outside normal business requirements?

Sir K. Wood

I have considered my hon. Friend's proposal but I do not think that it would be effective, since the objects underlying such a regulation could too easily be frustrated.

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