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78.
Sir Stanley Reed
asked the Chancellor of the Exchequer whether he has any statement to make about the continued issue of bank notes of high denominations?
Sir K. Wood
Yes, Sir, with my concurrence the Bank of England propose to cease forthwith to issue bank notes of the denominations of £10 and upwards and will withdraw those already issued as opportunity offers. One object of the change is to simplify the production and handling of the Note Issue. It will also provide an additional handicap for those who may contemplate breaches of Exchange Control or other Regulations.
Mr. Mathers
Will some of those notes be circulated in the OFFICIAL REPORT?