New French Currency In
p. 23 · Read in the full issue
N. Hebrides
ON October 1, a new Free French monetary arrangement came into force in the New Hebrides.
The Bank of Indo-China notes hitherto in circulation in the Condominium have been replaced by notes of the same bank in a special design bearing the Cross of Lorraine (symbol of Free France) and marked “Nouvelle Hebrides France Libre”.
To handle and control the transfer of funds between New Hebrides and New Caledonia and Australia, a new Govern ment department has been set up at Vila, the New Hebrides Franc Control Service, in charge of Monsieur Emile Bon (chief clerk of the Treasury) and Monsieur Gaston Crinon (accountant). The new currency is not legal tender in New Caledonia, The N.H. note issue is backed by a fund of between 14,000,000 and 15,000,000 francs (in pounds sterling) advanced by the Free French authorities in London.
Mr. Pat Savage, well known resident of Rabaul, New Guinea, arrived in Australia recently on leave.