EVASION ATTEMPTS
Federal Exchange Control CANBERRA, June Mi. Efforts to defeat the Exchange Control Regulations had been discovered by the mail censorship, it wits stated before the Commonwealth Parliamentary Censorship Committee by the officer in charge of economic control in the Treasury, Mr. I’. W. Neate. lie said that within three months of the establishment of a liaison between the censorship ami the Commonwealth Batik iitli'inptr at evasions involving 1,500,000 dollars and £ ((15,750 were discovered. Early in the war some of the large refugee class in Sydney had started to use skilful methods fo defeat Australia's exchange control. One method was to arrange that the dollars they owned in the United Slates should not appear lb lie really theirs, but held by them for relatives in Europe. Another was to create (rusts to hold dollars for them. On information received from the censorship, exchange control authorities made contact with holders of American securities and caused to be reported items to a value of 42,000.000 dollars and £1,312,500.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/DOM19440617.2.77
Bibliographic details
Ngā taipitopito pukapuka
Dominion, Volume 37, Issue 223, 17 June 1944, Page 8
Word count
Tapeke kupu
167EVASION ATTEMPTS Dominion, Volume 37, Issue 223, 17 June 1944, Page 8
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). 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.
Log in