TRAFFIC IN ENGLISH BANKNOTES
WELLINGTON, Jail. A brisk traffic in English pound notes lias been going on at stalls and sideshows of the Centennial Exhibition since the arrival in port of H.M.S. Ramillies. It appears that after five months at sea, the bluejackets have some pay to burn, and it is in the form of English money. On the first day, it is reported that a number of unsuspecting sailors were induced by unscrumpulous persons to part with English bank notes at their face value in New Zealand money. The sailors were soon better informed, but the rate of exchange prevailing at the Exhibition remained, in most instances. 24/6 for a £1 note. The sailors have so far usually been satisfied to accept this figure. The stall-holders or others who made the deal, however, find little trouble in selling the notes again at 27/. or even up to 30/- to people anxious to send money out of the country. Most of the sailors, however, are nov; becoming wise to the situation, and are demanding better value for their currency.
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https://paperspast.natlib.govt.nz/newspapers/MT19400106.2.105
Bibliographic details
Manawatu Times, Volume 65, Issue 5, 6 January 1940, Page 8
Word Count
179TRAFFIC IN ENGLISH BANKNOTES Manawatu Times, Volume 65, Issue 5, 6 January 1940, Page 8
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