NEW ZEALAND CURRENCY
REFUSAL OF RESERVE BANK NOTES THE POSITION EXPLAINED ERRONEOUS REPORTS CIRCULATED (Per United Press Association) HAMILTON, Jan. 25. Criticism of overseas reports regarding the refusal of banks to change New Zealand Reserve Bank notes was voiced by Mr N. H. Hooker at a meeting of the Hamilton Chamber of Commerce. Various reports were published, said Mr Hooker, dealing with the refusal of banks to change notes, but it appeared to him that the reports generally deprecated the position with the suggestion that New Zealand currency was worthless. “ The whole position," he said, “ is that these banks have been instructed not to negotiate Reserve Bank notes in order to stop any flight of currency, and the matter ought to be out right somewhere. “ The position is not as reported. “ We hear people in our own midst reading these reports,” added Mr Hooker, "and then saying that our currency is worthless. The difficulty is not due to any depreciation of currency.’’
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https://paperspast.natlib.govt.nz/newspapers/ODT19390126.2.95
Bibliographic details
Otago Daily Times, Issue 23717, 26 January 1939, Page 12
Word Count
162NEW ZEALAND CURRENCY Otago Daily Times, Issue 23717, 26 January 1939, Page 12
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