REPORTS CRITICIZED
Refusal Of Banks To Change New Zealand Notes By TeioirraDh- Association . HAMILTON, January 25. Criticism of overseas reports regarding the refusal of banks to change New Zealand Reserve Bank notes was made by Mr. N. H. Hooker at a meeting of the Hamilton Chamber of Commerce. Various reports were published, said Mr. Hooker, dealing with the refusal of banks to change notes, but it appeared to him that the reports generally depreciated the position with the suggestion that New Zealand currency was worthless. “The whole position,” he said, “is that these banks have been instructed not to negotiate Reserve Bank notes in order to stop any flight of currency, and the matter ought to be put right. The position is not as reported. We hear people 1 in our own midst reading these reports and then saying that ‘our currency is worthless. The difficulty is not due to any depreciation of currency.”
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https://paperspast.natlib.govt.nz/newspapers/DOM19390126.2.91
Bibliographic details
Dominion, Volume 32, Issue 104, 26 January 1939, Page 12
Word Count
154REPORTS CRITICIZED Dominion, Volume 32, Issue 104, 26 January 1939, Page 12
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