MONEY OVERSEAS.

Auckland Star, Volume LXX, Issue 148, 26 June 1939, Page 6

MONEY OVERSEAS.

Anyone who wants to send even as small a sum as £3 to Australia will in future have to tell a State official why he wants to send it, how much he has sent in the last three months, whether it is for himself or another, and in the latter case who is the sender. Apparently leakage by this small hole has been greater than was anticipated. Some people have abused the system by applying for orders in the names of several people, and it is apparently to check this practice that the new form is suggested. But very much more extensive inroads are being made by the " blnck market," and no apparent attempt is innrle either to check or to recognise the methods by which such funds are handled. The Government has failed to appreciate the fact that in keeping money in the country t hoy are also keeping it out, that investors niul others who may have money overseas are content to let it remain there ami to allow dividends which would in the riorum! course of events come to New Zealand to accumulate in the country of nrijjm. Thus our overseas funds are nnt •'"»" "P l'\ these accretions as they would be with a. free market.