"FUNNY MONEY"

Auckland Star, Volume LXXVI, Issue 200, 24 August 1945, Page 7

"FUNNY MONEY"

LABOUR'S SCHEME

MR. LANGSTONE TWITTED Parliamentary Reporter. WELLINGTON, this day. "The high priest of funny money" was the description applied to the member for Waimarhio. Mr. Langstone, by Mr. Algie (Nat., Remuera) when in his speech in the Budget debate in the House of Representatives last evening he replied to remarks made bv Mr. Langstone the previous evening on the taking over bv the Government of the privately-owned shares in the Bank of New Zealand.

Mr. Algie. whose speech was punctuated by laughter from his fellow Opposition.members, said his side acknowledged that the Minister of Finance. Mr. Nash, had a firstclass knowledge of his own subject, and, when he was listening to Mr. Langstone, must have known that the member for Waimarino was talking a considerable amount of "hot air?' Thev sympathised with the Minister because he was compelled to administer a policy with which he did not. and could not, agree.

New Zealand had run her part of the war without taking over the bank, and bv the same token could run the peace just as well, said Mr. Algie.

After discussing what Mr. Langstone had called the advantages of the Government taking over the bank, Mr. Algie said the point he sought to make was that Mr. Langstone had a knowledge of finance that was sketchy and unsound and that he was posing in New Zealand as one who .on his own showing and from his own speeches, was not entitled to exert an influence that people were led to believe he exerted over his more worthy colleague, '•the Minister of Finance. The country owed a debt of gratitude to the Minister for his pluck and courage in keeping the Government on the road of orthodoxy so long, and he regretted and deplored the state of affairs that had forced him to recede from that position. The Minister had the benefit of the guidance of the Treasury officials, whom any Minister ought to be proud to have associated with him.