On the 1st June I received a letter from Mr. H.W. Singer, Economic Adviser to the Palestine Commission, on the subject of the proceedings at the meeting of the Palestine Currency Board on the 12th May last.
2. On the eel June I wrote Singer a letter as an interim reply and informed him that I would enquire from the Colonist Office as to whether there were any further developments.
3. As I am not quite sure whether Singer is still dealing with these matters, I am writing to let you have the following information for your records.
(b) Since that date it has proved impossible to continue the Operation of the Currency Centre at Haifa for the redemption and issue of currency and the Centre has therefore been closed. Stocks of currency are now in transit to the United Kingdom.
(c) Barclay’s Bank (D.C. and 0.) limited will now act as Currency Agents for the redemption of currency at their Union office in Grace Church Street while issues of currency will be made by the Currency Board direct to banks in London. It will be the responsibility of the banks purchasing currency to arrange transportation to Palestine.