CALLING IN LARGE BANK NOTES
Shorter Time Limit Favoured (7.30 p.m.) SYDNEY, May 31. The Commonwealth Government is being urged to cancel its three months time limit before notes of denominations larger than £lO are withdrawn from circulation. It is felt that a long time limit will enable tax evaders and black marketers to dispose of their illgotten notes without embarrassment, thus defeating the purpose of the new national security regulation. Sydney banking authorities report that many people had anticipated the new regulation. In recent months there has been a marked increase in the number of notes of the value of £lO and over cashed at banks. After August 31 the taxation authorities, who have a close liaison with the banks, will be able to question any transactions involving large notes.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/THD19450601.2.62
Bibliographic details
Timaru Herald, Volume CLVII, Issue 23216, 1 June 1945, Page 5
Word Count
131CALLING IN LARGE BANK NOTES Timaru Herald, Volume CLVII, Issue 23216, 1 June 1945, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Timaru Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.