BANKS' LONDON FUNDS
. * SUGGESTION DENIED BY MR NASH [From Our Parliamentary ReporterJ WELLINGTON, July 20. The suggestion that the Government had brought pressure to bear on the trading banks to restrict the transfer of overseas funds was denied by the Hon. W. Nash (ths Minister for Finance) in the House of Representatives to-day, in answer to a question by Mr J. Hargest (National, Awarua). "I understand that the trading banks are merely following the normal course of conserving, as far as possible, for the ordinary requirements of their customers their overseas funds, which have- been considerably depleted by the large volume of importations which have taken place," said the Minister. "No Ministerial instruction whatever has been given to the banks, nor any pressure by the Government, to adopt this procedure."
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Press, Volume LXXIV, Issue 22459, 21 July 1938, Page 14
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130BANKS' LONDON FUNDS Press, Volume LXXIV, Issue 22459, 21 July 1938, Page 14
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