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Treasury deposit receipt (T.D.R.). An instrument of compulsory government borrowing from the commercial banks during the Second World War. The T.D.R.s were, in effect, unmarketable treasury bills bearing a rate of interest of 1£ per cent. First issued in 1940, they reached a total of £1,800 million by 1945, after which they were gradually replaced with treasury bills.

Treasury notes. In denominations of £1 and 10s. (50p), these, also known as currency notes, were issued to replace the gold coins withdrawn in Britain in 1914. At that time the lowest denomination of bank of England notes (l> bank-note) was £5, and the two kinds of currency complemented one another until 1928, when treasury notes were amalgamated with the Bank of England issue, fiduciary issue.

Treaty of Rome. European economic community.


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