(by Private Notice) asked the Chancellor of the Exchequer whether he has any statement to make about the amount of the Fiduciary Note Issue?
§ Sir K. Wood
Yes, Sir. Owing to the growing demand for currency, an increase in the Fiduciary Note Issue is necessary, and, acting under the power conferred by Section 8 of the Currency and Bank Notes Act, 1928, the Treasury have authorised an increase in the amount of the Fiduciary Note Issue by £50,000,000 to £630,000,000 as from to-day. The Treasury Minute will be laid before Parliament forthwith.