PROPOSAL SUPPORTED
P.A. BLENHEIM, Monday. Claiming that the only way to bring about a sound financial system was for the State to own and control the Bank of New Zealand, Mr. F. Langstone, M.P. for Waimarino, in an address maintained that money was the responsibility solely of the State. The Government issued its own notes through the Reserve Bank and the great bulk of transactions was done with public credit, he said. Nobody should be allowed to operate these credits, but the State, and when the Government took over the bank it would be the only authority to operate the credits. That meant that all the other banks would be mere savings banks, in the same category as the post office savings bank.
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Auckland Star, Volume LXXVI, Issue 119, 22 May 1945, Page 3
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123PROPOSAL SUPPORTED Auckland Star, Volume LXXVI, Issue 119, 22 May 1945, Page 3
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