A Monetary Enquiry

Press, Volume LXX, Issue 21081, 5 February 1934, Page 10

A Monetary Enquiry

On Saturday the Prime Minister announced the personnel of the select committee of the House of Representatives which is to enquire into New Zealand's monetary problems. One member of the committee, Mr Downie Stewart, has a theoretical and practical knowledge of currency problems. The only apparent qualification of the clher members for their task is that they are members of Parliament; and it is not likely that this will be sufficient to give their views about money any weight with either the public or the Government. There will, however, be a secretariat of experts to " assist" the committee; and if the secretariat handles the committee tactfully the final report should be of some educative value. It is a pity, however, that the Government, having sanctioned the not inconsiderable cost of the enquiry, did not appoint a committee with some claims to special knowledge and to the confidence of the public. A banker, a Treasury official, on economist or two, and representatives of the primary and secondary divisions of industry, with a competent secretariat, might have done for New Zealand what the Macmillan Committee did for Great Britain. The appointment of a purely parliamentary committee is, of course, a concession to those members of Parliament who feel that they do not play a sufficiently prominent part in the government of the country. And it is true enough that in recent years, and particularly since the depression began, the power of the executive has increased enormously and undesirably at the expense of the elected representatives of the people. In Parliament the record of the last three years has been a record of the progressive curtailment cf the privileges and responsibjli-

ties of private members. All who believe in democratic government will want to see the balance restored; but there should first be a clear understanding of the proper functions of private members. It is not desirable, for instance, that they should be called on to advise the executive on technical problems. That is a task for civil servants or for outside experts. It is sufficient for private members to examine and cuticise legislation, to keep the government in touch with the people and the people in touch with the government, to look after the special interests of their constituents, and to prevent abuse of the executive power. If they profess to an expert knowledge they are not expected to possess they do not enhance their own prestige or further the cause of representative government.