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Note Return

notes, banker, day, circulation, amount, bank, account and average

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NOTE RETURN. Every banker who issues his own notes must render weekly to the Commissioners of Inland Revenue a return showing the amount of his notes in circulation on each day of the Nveek and showing also the average for the week, and at the end of each four weeks the banker must show the average during the four weeks. The words of the Act (Section 1S of 7 S Vict. c. 32) are : " Every banker in England and Wales who shall issue bank notes shall, on some one day in every week (such day to be fixed by the Commissioners of Stamps and Taxes), [now Inland Revenue], transmit to the said Commissioners an account of the amount of the bank notes of such banker in circulation on every day during the week ending on the next preceding Saturday, and also an account of the average amount of the bank notes of such banker in circulation during the same week ; and on completing the first period of four weeks, and so on completing each successive period of four weeks, every such banker shall annex to such account the average amount of bank notes of such banker in circulation during the said four weeks, and also the amount of bank notes which such banker is authorised to issue under the provisions of this Act ; and every such account shall be verified by the signa ture of such banker or his chief cashier, or, in the case of a company or partnership, by the signature of a managing director or partner or chief cashier of such company or partnership, and shall be made in the form to this Act annexed marked (B) ; and so much of the said return as states the weekly average amount of the notes of such bank shall be published by the said Commissioners in the next succeeding London Gazette in which the same may be conveniently in serted ; and if any such banker shall neglect or refuse to render any such account in the form and at the time required by this Act, or shall at any time render a false account, such banker shall forfeit the sum of )/:100 for every such offence." Name and title as set forth in the licence Bank.

Name of the firm Firm.

Insert head office, or principal place of Issue Place.

An account pursuant to the Act 7 & Vict. c. 32, of the notes of the said bank in circulation during the week ending Saturday, the day of 19 .

Monday Tuesday Wednesday Thursday Friday Saturday 6) Average of the week . . .

(To be annexed to this account at the end of each period of four weeks.) Amount of notes authorised by law, i .

Average amount in circulation during the four weeks ending as above, t 1, being (the banker, chief cashier, managing director, or partner of the bank, as the case may be), do hereby certify that the above is a true account of the notes of the said bank in circulation during the week above written.

(Signed) Dated the day of 19 Section 19 of the same Act explains that " for the purpose of ascertaining the monthly average amount of bank notes of each banker in circulation the aggregate of the amount of bank notes of each such banker in circulation on every day of business during the first complete period of four weeks next after the 10th day of October, 1S44, such period ending on a Saturday, shall be divided by the number of days of business in such four weeks, and the average so ascertained shall be deemed to be the average of bank notes of each such banker in circulation during such period of four weeks, and so in each successive period of four weeks, and such average is not to exceed the amount certi fied by the Commissioners of Stamps and Taxes as aforesaid." The period during which notes and bills are deemed to be in circulation is dealt with in 9 Geo. 1V, c. 23, Section S : " Every unstamped promissory note pay able to the bearer on demand, issued under the provisions of this Act. shall, for the purpose of payment of duty, be deemed to be in circulation from the day of the issuing to the day of the cancelling thereof, both days inclusive, excepting, nevertheless, the period during which such note shall be in the hands of the banker or bankers who first issued the same, or by whom the same shall be expressed to be payable ; and every unstamped promissory note payable to order, and every unstamped bill of exchange so as aforesaid issued, shall, for the purpose aforesaid, be deemed to be in circulation from the day of the issuing to the day of the payment thereof, both days inclusive : Provided always, that every such promissory note payable to order, and bill of exchange as aforesaid, which shall be paid in less than seven days from the issuing thereof, shall, for the purpose aforesaid, be included in the account of notes and bills in circulation on the Saturday next after the day of the issuing thereof as if the same were then actually in circulation." Within fourteen days after the first day of January and first day of July a half yearly return of all unstamped promissory notes and bills of exchange must be rendered. The return is as follows :— An account of the amount or value of all the unstamped Promissory Notes and Bills of Exchange of Messrs. of Bankers, issued under the provisions of 9 Geo. IV., c. 23, and in circulation on Saturday in every week, for the half-year preceding the 1st day of 1910, together with the average amount or value thereof, according to the said account.

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