“Wild Cat Gamble."

Currency Dilemma in Rarotonga.

From Our Own Correspondent.

RAROTONGA, January 26.

NOT long ago, when a Commonwealth bank note, a British Treasury note, and a New Zealand note were ex changeable at roughly equal values and the holder of U.S. dollar bills was satis fied with 4/2 to the dollar, everyone knew where he stood; but those happy days are gone.

At Rarotonga there is no commercial bank and previously, when a store keeper accepted outside currency from passengers going south, he was pretty certain of being able to clear it again to passengers going north by the next boat.

But the relative value of currencies' is subject to such sudden and drastic change these days that the position is, a perfect curse to business people, Gov ernment officials and passengers alike.

Changing outside currency has be come such a wildcat gamble that it is no wonder fierce arguments arise and headaches develop with every passenger

steamer that calls.