"I PREFER-"

Auckland Star, Volume LXXVI, Issue 153, 30 June 1945, Page 9

"I PREFER-"

Published by Arrangement

A MINISTER GOES ASTRAY "I prefer to let the banks carry on their very useful service,"* said the Hon. Walter Nash when speaking in Parliament four years ago. After describing their functions he went on to say: "It seems to me that that is infinitely better than the State owning the bank, and particularly when it comes to the trouble of deciding whether 'Bill Jones' is to have an overdraft of £500, or 'Tom Johnson' an overdraft of £5000, and the question is determined by somebody who cannot be approached through the Minister." (See "Hansard" of October 7. 1941.) Now we have Mr. Nash deciding to do away with something "infinitely better" in favour of a Stateowned Bank, wherein banking policy would be determined by somebody who could be approached through the Minister. So much for Mr. Nash's presentday soothing syrup. The public have enough experience of State methods to realise that State management means political management. Where politics enters there is 'influence,''' favouritism, delays, red-tape, bureaucrcy, frustration, loss, and injustice. How comfortable would a farmer or trader feel \£ith an "on demand' overdraft from a Government Banking Department? Would he be free to criticise the Government or a State official? .. . The proposal to socialise the Bank of New Zealand is one that will affect everybody in the land. It is an assault on free enterprise and personal liberty—and is such. Ask Mr. Langstone! - Make a protest—write or wire your member: Hands off the Bank —Inserted by the Associated Chambers of Commerce of New Zealand.