FATE OF TIIE " CIIEQUELETS."
It would seem that the public is not to be afforded the opportunity of substituting the small " Receipt " forms in lieu of cheques for amounts below £2. I gave particulars last week of the scheme which had been put forwaid by the Midland Bank, but even before the article appeared in print the Midland Bank had made the announcement that, in view of the Chancellor of the Exchequer's statement on the matter, instructions had been given to .various branches to refrain from issuing further books until the matter had been settled once and for all. A further statement from the Treasury in 11:rd:day's paper explained that it was the view of the Treasury that the " chequelets " were liable to stamp duty and that a test case_ would be instituted without delay. The official Treasury notice concluded as follows : " Immediately on hearing the Treasury view, the Midland Bank voluntarily stopped the issue of further receipts of this kind, and have undertaken to bring this announcement to the notice of their customers. While the misunderstanding which arose is regrettable, it.should to made clear that all parties concerned, acted in entire good faith."
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