IMPORT PROHIBITED

Waikato Times, Volume 127, Issue 21200, 24 August 1940, Page 3

IMPORT PROHIBITED

BRITISH BANK NOTES UTILITY FOR ENEMY (By Telegraph.—Press Association) WELLINGTON, Friday In conformity with action being taken in other parts of the British Empire, the Minister of Finance, the Hon. W. Nash, announced today that the New Zealand Government had issued an order prohibiting the importation, save with the consent of the Minister of Customs, of banknotes of the Bank of England or banks in Scotland or Northern Ireland. The prohibition, Mr Nash explained, had arisen from the fact that large amounts of bank notes of the description referred to might have fallen into enemy hands on the occupation of Allied countries, and it was necessary that every step be taken to prevent their use by the enemy. By prohibiting the importation of these notes into Empire countries, the utility of such notes for enemy purposes would to a large extent be destroyed. Dominion Obligation Mr Nash at the same time issued a reminder that all persons ordinarily resident in New Z’ealand were required to offer for sale to the Reserve Bank all overseas currency, including bank notes, and he concluded by explaining that although no action had yet been taken actually to acquire overseas bank notes in terms of the Finance Emergency Regulations, it would be helpful if holders -would forthwith exchange such banknotes for New Zealand currency through any of the local trading banks.