THE CENTRAL BANK.
The Government lias decided to hand over to private control the management of the Central Reserve Bank, saying, in effect, that it cannot be trusted to handle the national credit. Having made this admission, in common honesty Parliament must now pass a lawmaking it compulsory for the Government to first obtain, the consent of the governor of the Reserve Bank before it can borrow money. If a Government cannot be trusted "with the nation's credit it certainly should not be entrusted with the power to borrow unlimited millions. We have seen a Government, over a long period of years, adding to the national debt at the rate of,over £10,000,000 per year. The most profligate Government could scarcely equal that record with State control of the country's credit and currencv. " PLAIN BILL.
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Bibliographic details
Auckland Star, Volume LXIV, Issue 259, 2 November 1933, Page 6
Word Count
134THE CENTRAL BANK. Auckland Star, Volume LXIV, Issue 259, 2 November 1933, Page 6
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