BANK’S REFUSAL TO CASH NOTES
RESULTS IN COINAGE RUSH IN MADRID. [By Electric Cable-Conyright.] [Aust. and N.Z. Cablo Association.] (Received Wednesday,, 8.15 p.m.) MADRID, June 15. The Bank of Spain, on discovering a few counterfeit notes refused to cash them. A rush on coinage followed. Since Saturday a hundred thousand residents in Madrid have demanded that notes be exchanged for cash with the result that £3,500,000 worth of paper money has already been exchanged and only twelve false notes thus found. General Prime do Rivera, the Premier, denounced the Bank’s folly of discrediting the paper currency instead of changing the few notes Without profit.
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Manawatu Times, Volume LII, Issue 3626, 16 June 1927, Page 9
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104BANK’S REFUSAL TO CASH NOTES Manawatu Times, Volume LII, Issue 3626, 16 June 1927, Page 9
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