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Australian notes



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FOR PRESS NO, 760

AUSTRALIAN NOTES

Statement, by the Treasurer, the Rt. Hon. Harold Holt, M.P.

The Treasurer (Mr. Holt) announced today that

Australian notes with the designation of Dr, H.C. Coombs amended

from "Governor, Commonwealth Bank of Australia" to "Governor,

Reserve Bank of Australia" will be issued within the next few

days. This amendment has become necessary as a result of the

1959 banking legislation by virtue of which the Reserve Bank of

Australia was established in January last. The first of the

notes to reach the public with the amended designation will be

those of the £10 denomination and these will be followed by the

other denominations as supplies become available.

Mr. Holt added that, for technical reasons, some

slight variations have been made in the size of the facsimile

signatures on the new notes and, in the case of the £1 '

denomination, in the positioning of the titles "Secretary to

the Treasury" and "Governor, Reserve Bank of Australia". Both

the signatures and the designations will now be identical for

all denominations. Otherwise the new notes will be similar in

all respects to those currently on issue, .

CANBERRA, A.C.T.

31st August, i960.