N.Z. CURRENCY.
POSITION OVERSEAS. STOPPING FUGHT OF CAPITAL. (By Telegraph.—Own Correspondent.) HAMILTON, this day. Reports from overseas regarding the refusal of banks to change New Zealand Reserve Bank notes were criticised by Mr. N. H. Hooker at a meeting of the Chamber of Commerce last evening. Mr.- Hooker said every effort seemed to be made to give the impression that the notes were refused, as New Zealand currency wa* considered worthless. "The position," he said, "is that these banks are instructed not to negotiate Reserve Bank notes in order to stop the flight of capital, and the matter ought to be put right somewhere. The position is not as reported."
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Bibliographic details
Auckland Star, Volume LXX, Issue 19, 24 January 1939, Page 8
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110N.Z. CURRENCY. Auckland Star, Volume LXX, Issue 19, 24 January 1939, Page 8
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