MONEY TRANSFERS
NO RESTRICTIONS DENIAL OF RUMOURS STATEMENT BY MR. NASII GOVERNMENT'S ATTITUDE [BY TELEGRAPH —SPECIAL REPORTER! WELLINGTON, Monday Rumours that the Government has imposed restrictions on the purchase of foreign exchange were categorically denied by the Minister of Finance, the Hon. W. Nash, in a statement issued to-night.
Mr. Nash said it appeared to be unhappily true that rumours to this effect were being stated and circulated maliciously, with the object of damaging the Government and injuring the credit of the Dominion, It was also fairly obvious that the origin of the rumours was within New Zealand. They were then cabled abroad —a sorry commentary on the lack of patriotism of somo of the Dominion's citizens. The Minister said ho desired to affirm categorically that the Government had placed no restrictions whatever on the purchase of foreign exchange; nor had it requested the trading banks to restrict such dealings. "It is clear from the provisions of the Reserve Bank of New Zealand Act," the Minister added, "that the Reserve Bank has no power to refuse to sell sterling to any applicant who requires it, and the relevant provision in the Act is still in full forco and effect."
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Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23135, 6 September 1938, Page 12
Word Count
199MONEY TRANSFERS New Zealand Herald, Volume LXXV, Issue 23135, 6 September 1938, Page 12
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