"MORE PUBLICITY."

Auckland Star, Volume LXV, Issue 158, 6 July 1934, Page 3

"MORE PUBLICITY."

NEW BANK'S POLICY.

PUBLIC ENTITLED TO KNOW

MEMBER'S CONTENTION,

(By Telegraph.—Parliamentary Reporter.)

WELLINGTON, this day,

The hope that the governor of the Reserve Bank, Mr. Leslie Lefeaux, was not going to adopt the secretive attitude of Mr. Montagu Norman, governor of the Bank of England, was expressed by Mr. F. Lye (Government, Waikato) in the House this morning, when complaining of the lack of information about the policy of the bank.

"I want to know something about the policy of the bank," said Mr. Lye. "Why is there such a lack of information about the proposals which are to be put into operation? The public is surely entitled to know what is going on. When one reads the newspapers one only gets vague references to the governor and the .work of the bank generally. The legislation setting up the bank was passed eight months ago, but we have not the slightest idea of what is going on. I agree that the Reserve Bank is going to play a very important part in the life of this country, particularly in bringing about the stabilisation of prices through the exchange rate, but I think the country is entitled to know just what is going on. "The governor of the bank has recently gone to Australia, and one would like to know just how long lie is going to stay there. I hope he is not going to emulate Mr. Montagu Norman and wear a false moustache and dye his hair." A Minister: He is coming back to-day. Mr. Lye: I am very glad to hear it. I think if we had a little more publicity in connection with the bank's affairs it would be in the interests of the people.