WW1 Commemoration

WW1 Commemoration

WW1 Commemoration

First published in News
Last updated

BANKS in Stroud and Nailsworth were kept closed for three days succeeding our entry into war.

The bank rate was at first raised to ten per cent but reduced to six per cent when they re-opened on Friday, August 7.

The government also arranged to issue £3,000,000 in notes on that day, with £5,000,000 each day until the supply is adequate.

Fortunately for the Stroud district there was no suggestion of panic and when the banks opened their doors very few clients attempted withdrawals on an embarrassing scale.

There was more panic buying of provisions than the situation justified and stores were depleted of the more essential groceries.

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