Nz Notes Useless In Uk

From Our Mangaia Correspondent The fond hopes of some local Cook Islanders, who contemplated purchasing goods in England by means of remit tances of NZ pound notes, in defiance of the import license system, have been dashed to the ground. A new protocol announces that, in view of the “embar

rassment of the NZ Government—the Keserve Bank in London, presumably— by recipients of £1 NZ notes, demanding their equivalent in sterling upon presen tation for payment, British firms have been instructed to accept no further re mittances of these notes, nor to cash them for travellers.

To us of the islands, whose Bible is a mail-order catalogue, this action appears

remarkably like “welshing”—and our dis appointment at being unable to use NZ notes for small private orders is as great as our annoyance at the cunning move to avoid any drain on the NZ Govern ment’s sterling balances held in London.