NO MONEY, NO WAGES

Evening Star, Issue 23352, 23 August 1939, Page 10

NO MONEY, NO WAGES

N.Z. BUSINESS BUYERS IN LONDON RESERVE BANK’S NOTIFICATION TO EMPLOYERS One result of the drastic tightening up of exchange control regulations within recent weeks has been the prohibition of the forwarding of remittances to London with which to pay representatives of Dominion business. houses in that city. In more than one instance Dunedin concerns have been notified that their applications for sterling for this purpose have been temporarily refused because of the scarcity of London balances. Probably when tho matter comes up for reconsideration next month (as has been promised), tho funds will be made available, but the temporary inconvenience and the prospect of their not being allocated is most disturbing. “ Presumably tho High Commissioner and Ins staff are still being paid,” said one man this morning, while our Minister of Finance and our Minister of Lands experience no difficulty in obtaining financial accommodation with which to make free in Great Britain and Europe. It has come to a pretty pass when private employees cannot bo paid their wages.”