The cheque account balances are out of proportion to the requirements of trade in the Protectorate. This item of 1,054 million crowns on December 31, 1939, was nearly the same as before the war, but increased to 1,576 millions on April 15, 1940. This high figure is the more significant of the small demand for money, as free means of payments are invested more and more in cash vouchers of the National Bank. The circulation is steadily decreasing (5,280 millions on April 15, against 6,305 millions on August 15, 1939), but it should be considerably less if it is io correspond to the changes in the credit business of the National Bank, The principal reason why it is not is the extraordinarily high mark claim against the Reichsbank.
Against the sight liabilities of the National Bank on April 15, 1940, consisting of 5,280 million crowns of circulating bank notes, 1,576 millions of cheque account balances and 1,394 millions of cash vouchers, totalling 8,250 million crowns, these are on the assets side: gold and exchange, 2,317 millions, of which, however, about 1450 million crowns are blocked abroad; 171 million crowns of commercial credits and 5,762 million Crowns of State debt, consisting of 536 millions advances on collateral securities, 2442 millions of State notes and coins and 2.78 million Crowns out of the claim against the Reichsbank, Foreign Exchanges Closing, June 25.
Bombay Rupee T. T. on:
Japan 0% New York 333 Shanghai—231; Hongkong—84.
Text read from the printed page and cleaned; old type leaves the occasional error.