MONEY ORDER RATES.

Auckland Star, Volume LVI, Issue 135, 10 June 1925, Page 8

MONEY ORDER RATES.

• ~~ .a REDUCTIONS ANNOUNCED,', 1 OVERSEAS REMITTANCES. The Postmaster-General, Sir . Jame| Parr, to-day announces a recent re'dne. tion in the commission on mon*y» orders issued in New Zealand for p»j» ment in most places beyond' New' Zt%< land. In May of last year it becamg necessary to increase the chargeg fof money-orders issued for payment in-tai Australian States, owing to the. uu. favourable rate of exchange for remit* tances to the Commonwealth, and,' lattr as the bank rate of exchange became, still more unfavourable, the rates'.of money-order commission had to be flit* ther "increased. The recent decision \ti, return to a gold currency has'had til effect of bringing about a considerable fall in the bank exchange, and the Ponj; Office has, therefore, taken the oppot* tunity to revert to the rates in ,exu*i ence for the twenty years prior to M»y 1024. This opportunity has also heaij taken to make a substantial reduction in the charges for commission on money* orders payable in the United State*} United Kingdom and other /place* abroad with which this Dominion bar moncv-order relations. The xatet were increased in the year 1019 with thi object of raising additional revenue. Ifc is felt now that, with a return to prog, perity. the clientß of the Post OflW are entitled to a reduction. The rates for.' the Australian States have been fixed nt fid for the first £2 or fraction thereof, and 1/ for sums not exceeding £5. For- sums up to £7 the charge is I/O, and for amounts up to £10, 2/. For each alternate increase of £2 mi. £3 an additional sum of 6d is charged as commission. Tbe rate for all 'otne* places abroad, except Australia, will in future be 3d for each £1 or fraction" thereof. •: