BANKS UNDER FIRE.

Auckland Star, Volume LXVIII, Issue 251, 22 October 1937, Page 9

BANKS UNDER FIRE.

M.P.'S HOPE FOR FUTURE.

OPPOSITION CRITICISED,

(By Telegraph.— Parliamentary Reporter.! WKLLIX<JTON, this clay.

'Die activities of private trading banks were criticised by Mr. H. M. Christie (Government. Waipawa) in tie House of Representatives tins morning when the Budget debate was resumed.

He said that during the depression Australian banks operating on New Zealand had used their profits to expand credits in Australia. He hoped to seethe day when the banks in New Zealand were giving real service to our own country, and he did not wish to see, as had occurred in the pant, a Government dominated by Australian banks which had operated solely in their own interests and at the expense of the Dominion.

He censured previous Governments for the high prices paid for large blocks of land purchased for land settlement. The only people who received any benelit from these transactions were the Government'* own friends, lie said. He reminded the Opposition that the country was still paying interest on the purchase price of these areas, money which bad hcen wasted by Opposition Governments.