NEW ZEALAND NOTES

Greymouth Evening Star, 21 January 1939, Page 10

NEW ZEALAND NOTES

REFUSED AT SUVA

[PER PRESS ASSOCIATION.] AUCKLAND, January 20. “In all my travels I had never seen a New Zealander so humiliated.” said Mr. A. J. Stallworthy, a former Minister for Education, in relating an incident caused by the operation of the Dominion's exchange control policy. When the Mariposa called at Suva, from the liner’s promenade deck. Mr. Stallworthy said, the words “Bank of New Zealand” could be seen painted in large letters on the front of the building.

A number of passengers went to the bank to exchange sterling or dollars for Fiji currency, and did so on favourable terms at the rates prevailing. Then a prosperous New Zealand farmer went forward to the counter and put down three Reserve Bank of New Zealand £1 notes, but the teller declined to accept them. “The farmer was dumbfounded,” continued Mr. Stallworthy. “‘But it’s good, honest money,’” he exclaimed.

“‘Maybe,’ replied the official as kindly as he could. ‘l’m sorry, but I can’t take it at any price.’

“ ‘Well I'm -’ said the farmer. ‘Reserve Bank of New Zealand notes, guaranteed by the New Zealand Government, and only worthless paper to the Bank of New Zealand at Suva, and the New Zealand Government has five directors out of nine on the board of the Bank of New Zealand! Well I’m — J ]’ll try the stores.'

"He did. without success.” said Mr Stallworthy.