TRAFFIC IN ENGLISH BANKNOTES
EXCHANGE SPECULATION AX EXHIBITION [United Press Association] WELLINGTON, This Day. A brisk traffic in English pound notes has been going on at stalls and sideshows of the Centennial Exhibition since the arrival in port of H.M.S. Ramillies. It appears that after five months at sea, the bluejackets have some pay to burn, and it is in the form of English money. On the first day, it is reported that a number of unsuspecting sailors were induced by unscrupulous persons to part with English bank notes at their face value in New Zealand money. The sailors were soon better informed, but the rate of exchange prevailing at the Exhibition remained, in most instances, 24s 6d for a £1 note. The sailors have so far usually been satisfied to accept this figure. The stall-holders, or others who made the deal, however, find little trouble in selling the notes again at 27s or even up to 30s to people anxious to send money out of the country.
Most of the sailors, however, are now becoming wise to the situation, and are demanding better value for their currency.
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https://paperspast.natlib.govt.nz/newspapers/NEM19400105.2.25
Bibliographic details
Nelson Evening Mail, Volume LXXIII, 5 January 1940, Page 2
Word Count
188TRAFFIC IN ENGLISH BANKNOTES Nelson Evening Mail, Volume LXXIII, 5 January 1940, Page 2
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