ANOTHER ROAD BLOCKED

Evening Post, Volume CXXVIII, Issue 12, 14 July 1939, Page 10

ANOTHER ROAD BLOCKED

(Special to the "Evening Host.")

AUCKLAND, This Day.

Indicated by refusals to issue import licences, it is apparent that the Customs Department is closing down, or severely limiting, the scheme whereby it was possible to obtain overseas goods that did not come in conflict with Dominion manufactures under arrangements by which the funds for payment remained for a period in the Dominion.

Importers acknowledge that some limitation on the scheme was inevitable sooner or later, as a dangerous condition would arise in the future if there were a large accumulation of funds in the Dominion awaiting transfer.

The attitude of the Department conforms to the policy it has adopted of refusing to grant import licences where payment has been arranged for by the purchase of overseas funds on the unofficial, or "black," exchange market, and which otherwise might have been diverted into the official overseas sterling funds.

- The Department, through the medium of import licences, is insisting on pay-ments-f.or goods, unless it had previously authorised deferred payments, being made through the banks within normal time limits.