Foreign News: War of Sterling

Great Britain last week gave a drastic twist to the screws of her financial machine, barred English bank notes abroad from re-entry into the United Kingdom. In effect, she declared worthless for the duration all British paper money in non-sterling countries. U. S. holders of pound notes were given six days to exchange them, but France and other occupied nations were allowed only 24 hours.

The object of this maneuver was to outwit Adolf Hitler. Large quantities of British paper money arriving in South America, the U. S. and other neutral countries had warned...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!