STRANGE MONEY

Bay of Plenty Beacon, Volume 6, Issue 37, 8 January 1943, Page 3

STRANGE MONEY

Official War Correspondent A South Pacific Base., Dec. 12. New Zealanders here often find themselves trying to think in terms of three different kinds of currency at once. Several of them have tied themselves into hopeless, knots over the equivalent values of the Ncav Zealand pound, the American dollar and the French franc. Since they are on oA'crseas rates, the. troops are paid on a sterling basis, which means that each pound they receive is AA'orth nearly 2."js in New Zealand money. But they receive their pay in dollars—lour of them to the pound. Some, of them

have had opportunity to make purchases in civilian shops, and there they often get a handful of French franc notes in change. Forty francs are Avorth a dollar. So the New Zealand soldier, still thinking by habit in terms of pounds shillings and pence, but passing dollars over the counter and getting his change in yet another currency, usually gives up scratching his head over three dimensional mental arithmetic, and takes the shopkeepers word for it. Opportunity was given the men while they Avere still aboard ship to convcrt into dollars Avhat New Zealand money they possessed, up to a maximum of £!; and at the rate of four dollars to the pound. "When

the}' landed they found a ready market for any silver coins and even banknotes which still remained in their pockets. The reason lay in the average American soldiers' 1 never--ending quest for soUA'enirs. Americans paid, our men full jjrices: for New Zealand coins, and often 10s and £1 notes, to slioav the home folks. Thev even called in force at the Ngav Zealand based pay office and offered to buy. Dollars which the Ncav Zealanders save, out of their pay—and it is easy to saA r e here —may be remitted home through the pay office. Since each dollar is payable in NeAV Zealand at the rate of 6s Id. this ar~ rangement is distinctly to their advantage.