NEW ZEALAND MONEY

Taranaki Daily News, 5 August 1931, Page 5

NEW ZEALAND MONEY

AUSTRALIAN “INVESTMENT.” NEW LOTTERY AN ATTRACTION. Sydney, July 23. New Zealand money has begun to pour into New South Wales—and certain it is that New South Wales needs all the money it can get. Of course, New Zealanders are not moved by any pity for the plight of this unhappy State. Every New Zealander who sends 5s 3d excepts to take out of the country £5OOO, which will be the prize in the first lottery. This week’s mails brought scores of letters from New Zealand, and the majority of them included a postal note. The postal notes were not made payable to : anybody in ■■ particular, but the' banks are always ready to cash them. The Idttery office waits until it has £lOO of New Zealand money, and at the present rate of exchange this realises £llB 18s absolute profit to the New South Wales Government. The lottery officials are making hay while the : sun shines,- for they fear? that the time will come when the New. , Zealand Government will ban participation in the lottery. • What a change has come over the state of affairs in New South Wales. The lottery office is housed in the great £2,000,000 bank which not many months ago closed its doors. . Not -so long ago people poured' their thousands into numerous savings accounts. Their thousands are still locked up in the institution. Now people are rushing to the same, building in their hunt for a fortune, their get-rick-quick hope running high. Actually the lottery office has not yet commenced business, but it has on hand nearly 20,000 applications for tickets. The other day the police had to control the queue formed by those who wanted to lodge their applications so that they could be certain of being in the first ballot, which will not be drawn for about three weeks. A phenomenal rush is only to be expected at the beginning, but in view of the shortage of cash generally it is doubtful whether there can be a draw every ten days, as planned. New Zealand is not the only country represented in the applications so far received. They have come from England, Scotland, the United States, and Canada. Many of the applicants living in distant parts had no idea of the price of the tickets, but forwarded an amount which they hoped would be sufficient. They have displayed remarkable trust in the lottery officials. Each day this week the lottery mail has filled several suitcases, and the staff has had such a busy time that it has been called upon to work overtime.