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5 Pounds 1941, Australia

in Krause book Number: 27b
Years of issue: 1939 - 1952
Edition: --
Signatures: Governor, Reserve bank of Australia: Mr. Hugh Traill Armitage, Secretary to the Treasury: Mr. S. G. McFarlane
Serie: 1939 Issue
Specimen of: 1938
Material: Cotton fiber
Size (mm): 180.34 x 78.74
Printer: John Ash, Australian Note Printer, Melbourne, Australia

* All pictures marked magnify are increased partially by magnifying glass, the remaining open in full size by clicking on the image.

** The word "Specimen" is present only on some of electronic pictures, in accordance with banknote images publication rules of appropriate banks.

5 Pounds 1941

Description

Watermark:

watermark

Captain James Cook, The Royal Society of London for Improving Natural Knowledge, The Royal Navy (7 November 1728 - 14 February 1779) was a British explorer, navigator, cartographer, and captain in the Royal Navy. Cook made detailed maps of Newfoundland prior to making three voyages to the Pacific Ocean, during which he achieved the first recorded European contact with the eastern coastline of Australia and the Hawaiian Islands, and the first recorded circumnavigation of New Zealand.

watermark

Behind each signature is an inscription - FIVE.

Avers:

5 Pounds 1941

HM The King George VI.

George VI (Albert Frederick Arthur George, 14 December 1895 - 6 February 1952) was King of the United Kingdom and the Dominions of the British Commonwealth from 11 December 1936 until his death. He was the last Emperor of India and the first Head of the Commonwealth.

Photographic collage of King George VI, 1936

This new Ash series was issued mainly to replace George V by George VI on the front of the notes. This photographic 'collage' of King George VI was used as a reference image for the 1939 notes.

It was created by superimposing the (head) portrait of George VI on the torso taken from a photograph of Edward VIII, whose abdication in 1936 led to the need for a new note design featuring George VI.

The watermark profile of Edward, the Prince of Wales was also replaced with that of Captain Cook. (Museum of Australian currency notes)

In the middle, on top, is Australian coat of arms.

coat of arms Australia

The coat of arms of Australia (formally known as Commonwealth Coat of Arms) is the official symbol of Australia. The initial coat of arms was granted by King Edward VII on 7 May 1908, and the current version was granted by King George V on 19 September 1912, although the 1908 version continued to be used in some contexts.

In the top half of the shield, from left to right, the states represented are: New South Wales, Victoria and Queensland. In the bottom half, from left to right: South Australia, Western Australia, and Tasmania. Above the shield is the seven-pointed Commonwealth Star or Star of Federation above a blue and gold wreath, forming the crest. Six of the points on the star represent the original six states, while the seventh point represents the combined territories and any future states of Australia. In its entirety the shield represents the federation of Australia.

The Red Kangaroo and Emu that support the shield are the unofficial animal emblems of the nation. They owe this recognition to the fact that they are native Australian fauna (found only on that continent), and likely chosen because they are the most well-known native Australian animals large enough to be positioned together in scale holding up the shield. It is often claimed these animals were chosen because neither animal can move backward, only forward - i.e. progress. In reality both animals can move backwards, but infrequently do. In the background is wreath of Golden Wattle, the official national floral emblem, though the representation of the species is not botanically accurate.At the bottom of the coat of arms is a scroll that contains the name of the nation. Neither the wreath of wattle nor the scroll are technically part of the official design described on the Royal Warrant that grants the armorial design.

Denominations in numerals are in all corners, also centered and on background. In words centered.

Revers:

5 Pounds 1941

A distinctive feature of currency notes designed in the 1930's was the use of artwork by Frank Manley based on bas-relief panels originally designed by artist Paul Raphael Montford. These panels represented various sectors of the Australian economic life:

Manufacturing – Ten shilling note

Pastoral – One pound note

Commerce – Five pound note

Agriculture – Ten pound note

Mining – Fifty pound note

Dairying – One hundred pound note

This note shows Commerce - dock workers with barrels and sacks.

By the early 1930s, manufacturing and distribution services had each grown to be about 20 per cent of the economy, broadly on a par with the rural sector.

After Federation, Australia increasingly encouraged manufacturing through import-substitution, under the protection of high and rising tariffs.

While manufacturing grew, this did little to reduce the country's heavy reliance on a few rural exports.

1920s began for Australia very favorable. The prices for the main export commodities soared. So, in 1925, export prices for wool, grain, oil and meat compared with prices in 1913 increased respectively by 163, 50, 60 and 60%.

It is leading to a massive flow of people and capital. During the 1921-1927 to Australia came up to 263 thousand immigrants, and in the previous 20 years - 248 thousand. By the early 1930s, the total population of the country reached 6.5 million people. By this time, the volume of foreign capital entered the country, estimated at 1.188 billion pounds, of which British investments amounted to 554 million pounds.

Favourable economic conditions contributed to the development of the main sectors of the Australian economy. Wool production has grown over the years 1920-1929. with 625 million to 968 million pounds, and the sheep - with 86.1 million to 106.2 million.

Accordingly, the expanded export made opportunities for Australia. Thus, the export of wool for the 1920-1929 increased from 542 million to 763 million pounds, and its cost - from 42.1 million to 55.9 million pounds. Exports of frozen meat to the middle 1920s in the number more than doubled the pre-war level (284 million pounds against 130 million), but at a cost - in 3 times (from 4140 thousand pounds to 1460 thousand).

Although Britain continued to be the main trading partner of Australia, its share in the Australian foreign trade turnover decreased. But significantly increased the share of the US and Japan. If the beginning of the First World War, the proportion of British exports of Australia was 45.1%, while by 1929 it had fallen to 38%, and imports - from 59.7 to 39.7%. At the same time the US share increased respectively to 2.7 to 4% and from 1.3 to 3.4%, and Japan - from 1.6 to 7.9% and from 1.2 to 3.3%.

Particularly noticeable change direction of traffic the main Australian export product - wool. During the period 1921-1931 the share of the UK in the Australian wool exports fell from 47.5 to 29.7%, while the share of the countries of continental Europe and Japan increased respectively from 38.1 to 47.7% and from 7.1 to 19.7%.

Everything changed after the infamous date of October 24, 1929 when the New York Stock Exchange began to plummet in share prices. Within a month, they have fallen by an average of 40% below their former value. A giant wave swept an unprecedented crisis in the first place the United States. Thousands of industrial, commercial and financial companies went bankrupt. Millions of people were left without work. In these circumstances, words, shortly before US President Hoover said: "We in the US are closer to the final triumph over poverty than ever before in the history of this country," perceived as ironic.

Very quickly, the economic crisis has spread to Europe and Japan. In 1932, the total number of unemployed in the United States, Japan and Western European countries amounted to 30 mln. people.

The global economic crisis has hit hard, and Australia. The prices for its main export commodities fell sharply. If in 1928 the pound was worth 15 pence wool and bushel of wheat - 5s., By the end of 1930 - respectively 8d and 2s. 6 pence. The cost of Australian exports in 1930 amounted to only half of its value in 1928, the national income in 1930-1931 was reduced by 1/3. By 1933, almost a third of Australian workers were unemployed. The earnings declined by 20%.

In 1930, in the midst of economic crisis, when tens of thousands of Australian workers have reached a complete impoverishment, the Labour Party held its 12th conference, which was confirmed by the negative attitude of the ALP to the communist movement in Australia. "Neither the Communist Party nor any of its branches, - noted in the documents of the conference - can not unite with the Australian Labor Party. No member of the Communist Party can not become a member of the Australian Labor Party, ALP members are prohibited to protect the policy of the Communist Party."

At the same time, the Labour Party has been unable to deal with complex issues of governing the country in the economic crisis. In the ranks of the party began the confusion. The leader of the Labor Party in New South Wales J. Lang in the absence of Prime Minister D. Skellina, who was in England at the Imperial Conference, put forward his plan to "rescue" countries is, in fact, is to refuse to pay taxes UK. When his plan was not supported by the ALP, Lang came out of it, to create the group. Another Labour figure, D. Lynes at the end of 1931, on the eve of the federal elections, organized a group called United Australian Party. In the elections held on December B 1931, the party won a majority in the federal parliament and the parliaments of all states except Queensland. Its leader D. Lines formed a new government of Australia, the head of which he was until his death in April 1939, but he created the United Australian Party remained in power. Its leader and Prime Minister Robert Menzies became.

Since 1934, the economic situation began to improve Australia. The crisis has receded, but its effects continue to be felt for a long time. The development of the national economy slowed down considerably.

Something you can read also here (National museum of Australia)

Denominations in numerals are in lower corners. In words on the right side.

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