B —l6
BALANCE-SHEET The principal changes in the balance-sheet as at the 31st March, 1949, compared with that of the previous year were as follows : Liabilities Bank Notes The increase during the year of £799,342 in notes outstanding from £48,557,528 on the 31st March, 1948, to £49,356,870 on the 31st March, 1949, reflects a further slowing down in the rate of increase. This trend is shown by the following table : Notes Issued as Increase, at 31st March, £ £ 1939 .. .. .. .. 15,246,971 1940 .. .. .. .. 18,284,757 3,037,786 1941 .. .. .. .. 21,440,823 3,156,066 1942 .. .. .. .. 24,145,054 2,704,231 1943 .. .. .. .. 30,390,754 6,245,700 1944 .. .. .. .. 36,254,495 5,863,741 1945 .. .. .. .. 40,201,306 3,946,811 1946 .. .. .. .. 43,489,031 3,287,725 1947 .. .. .. .. 46,878,128 3,389,097 1948 .. .. .. .. 48,557,528 1,679,400 1949 .. .. .. .. 49,356,870 799,342 The effective note circulation —that is, notes in the hands of the public—was £42-199 millions on the last Wednesday in March, 1949, an increase of £l-443 millions for the year. The following figures show the increase by denominations that has taken place in recent years. A point of interest is the proportionately greater increase that has occurred in £5 and £lO notes.
(£000)
Demand Liabilities (a) State. —Total deposits held by the Bank under this heading showed a decrease of £2-58 millions, from £23-15 millions on the 31st March, 1948, to £2O-57 millions on the 31st March, 1949. From May, 1948, to February, 1949, the monthly average of these deposits was £lO-057 millions. The customary increase in this item during March (and, to a lesser extent, during April) reflects principally the receipt by the Government of income-tax. (b) Banks. —The total deposits held by the trading banks at the Eeserve Bank increased by £l2-42 millions, from £47-10 millions on the 31st March, 1948, to £59-52 millions on the 31st March, 1949.
2
Last Balance Day in March, 1943. 1944. 1945. 1946. 1947. 1948. 1949. io/£1 .. £5 £10 .. £50 .. Trading banks' notes outstanding 906 7,332 13,306 2,095 2,154 382 952 8,021 16,422 2,791 2,634 376 990 8,356 18,599 3,366 2,504 371 1,087 9,143 21,085 3,256 1,706 366 1,143 9,422 22,486 4,218 2,001 363 1,171 9,434 23,117 4,687 1,987 361 1,216 9,521 24,027 4,990 2,086 359 Total active circulation 26,175 31,196 34,]86 36,643 39,633 40,757 42,199
Use your Papers Past website account to correct newspaper text.
By creating and using this account you agree to our terms of use.
Your session has expired.