PUBLIC FINANCE.

Press, Volume LXVII, Issue 20330, 1 September 1931, Page 11

PUBLIC FINANCE.

THE COMMITTEE ON ECONOMY. BANKS AND PRODUCERS. RELATIONSHIP INVESTIGATED. [From Ou»i Parliamentary Rei'obter.] WELLINGTON, August 31. An interesting stage has been reached in the examination of the public finance of New Zealand by the Special Economy Committee of Parliament which continued its sittings to-day. Evidence was taken from banking interests, tho only two witnesses to be heard during the limited sitting hours of tho Committee being Mr W. A. Kiely, chairman of the Associated Banks, and Mr J. T. Grose, manager of the National Bank of New Zealand. It was intended that Sir Htenry Buckleton, manager of the Bank of New Zealand, should be called to-day, bqt he probably will give evidence to-morrow, when tho Committee will hold morning and afternoon sittings, allowing . the House to sit in the evening. The Prime Minister had no report to make this evening.

Exchange and Credit. It is understood that the bankers wars closely questioned by members ot the Committor concerning the relar tipnslup between the banks and the producers of this country, and also upon the operation of the overseas exchange on the marketing and gale of our primary produce in England. Particular interest will be shown in the evidence of Sir Henry Buekleton because certain members of the Committee consider that the State, having a substantial share in the Bank of New Zealand, should exercise greater control in the arrangement of credit through, the banks.

Imported Goods. Certain importer's have been invited to give evidence after the bankers. Their evidence will probably relate to the effect of the depression and tho shrinkage in the national income upon the Customs figures as reflected by foreign importations. One phase or this evidence wliieb will enlighten the Committee will be tho importers' views upon whether stocks of. merchandise that are now getting low will or will not bo renewed, The high Custom 3 duties may affect this policy to some extent and keep the Customs returns low.

AN ORANGE RESOLUTION. (NTSSS ASSOCIATION TELEGBAV.) WELLINGTON, August 31. The Secretary of the Parliamentary Committee of the Grand Orange todga hais forwarded the following resolution to tli6 Party leaders in the House "That this Parliamentary Committee representing the Grand Orange Lodge of New Zealand, IftGofPorated, supports the formation ofa National Government, and urges that evefy effort be exercised t6 place New Zealand's affairs on a satisfactory basis.