Money

Bibliographic data

Monograph

Identifikator:: 1819853969

URN:: urn:nbn:de:zbw-retromon-207464

Document type:: Monograph

Author:: Cannan, Edwin http://d-nb.info/gnd/118666916

Title:: Money

Edition:: 6. ed.

Place of publication:: [London]

Publisher:: King

Year of publication:: 1929

Scope:: XII, 120 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

[20 MONEY always deceived most foreign observers. The Act further provided that any surplus left in the Currency Note Account after these transfers to the Bank was to zo to the Exchequer, thus winding up the whole account. This scheme of course involved the disappearance of the ‘‘ Cunliffe limit,” so far as its curious use of the maximum fiduciary issue of the previous year was con- cerned. But the limit arrived at for 1928 is, so to speak, embalmed in the provision that the ‘ fiduciary issue ” (as the amount of Bank Notes of all denominations which need not be covered by gold is now officially as well as commonly called) shall be £260,000,000, since this sum was arrived at by adding the £245,000,000 permissible for 1928 under the Cunliffe limit to the old twenty million fiduciaryissue of the Bank under the Act of 1844, and deducting five millions for notes expected to be thrown out of Ireland by the Free State’s decision to have a paper currency of its own. This £260,000,000 may be varied by the Treasury on the request of the Bank, but a variation so made, if in the upward direc- tion, will not continue in force for more than two vears without parliamentary sanction. The profits of the whole of the issue (notes for £5 and upwards, as well as for £1 and 10s) have to be accounted for by the Bank and paid to the Exchequer. & -— J / % 50 $d : 2A Crp Abteilung Diunotiel 1H A Printed in Great Britain by Butler & Tanner Ltd., Frome and London

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