NEW ZEALAND’S CREDIT
AFFEGT’ED BY AUSTRALIAN CRISIS (By Telegraph—Press Association.) ELTFIAAI, Alarch 6. Australia’s present unhealthy position is apparently having a., direct effect an New Zealand’s financ-ia] reputation vith overseas firms, as a Taranaki firm of merchants handling large tea consignments has received a communication from Colombo that all exchange banks in Colombo have decided ±o discontinue to discount bills on Australia inr.l New Zealand a>s Long as the prevailing instability fllastg. Alternative suggestions are that a remittance should accompany orders or the establishment of a sterling credit in. London against which overseas firms could Iraw. The local merchants suggested establishing a letter of credit with Colombo banks.
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Hawera Star, Volume L, 6 March 1931, Page 9
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108NEW ZEALAND’S CREDIT Hawera Star, Volume L, 6 March 1931, Page 9
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