AUSTRALIAN.
(Beceived November 18, 11.15 a.m.) BANK NOTES BILL. Sydney, November 21. In connection with the Bank Notes Bill, which comes on in the Legisla; tive Assembly for the second reading to-morrow, the Premier has had a return prepared which shows that the trade of the colony does not absorb at any one time more than two million pounds worth of bank notes. According to latest returns the banks hold specie of the value of £5,697,000, and other assets of the valueof £44,656,000, with which to secure two million of notes. None of this security under the new Bill will be destroyed until the bank notes are redeemed, as the notes will be a first charge. At present 2,520,000 sovereigns are being moved about f com branch to branch at great cost to meet the liabilities which may accrue' Making notes a legal tender in the country will avoid this.
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Ashburton Guardian, Volume XIV, Issue 3135, 21 November 1893, Page 3
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150AUSTRALIAN. Ashburton Guardian, Volume XIV, Issue 3135, 21 November 1893, Page 3
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