Fiduciary Note Issue.

Oral Answers to Questions — Cival Aviation. – in the House of Commons on 6th December 1938.

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Photo of Mr Clement Attlee Mr Clement Attlee , Stepney Limehouse

asked the Chancellor of the Exchequer whether he proposes any variation in the fiduciary note issue to meet Christmas demands?

Photo of Mr John Simon Mr John Simon , Spen Valley

Yes, Sir. I have given directions, at the request of the Bank of England and under the powers conferred on the Treasury by the Currency and Bank Notes Act, 1928, that, as from to-day, 6th December, 1938, the fiduciary issue, which was reduced from £260,000,000 to £200,000,000 in 1936, should be temporarily raised to £230,000,000 in order to meet seasonal demands.