MONETARY ENQUIRY

Press, Volume LXX, Issue 21087, 12 February 1934, Page 10

MONETARY ENQUIRY

; I.,MUM K OKI'! TATION TO j MR FORBES i rim nsoLiiTiOK in.mi K.i AUCKLAND, February 10. A deputation consisting of Labour members of Parliament, headed by the leader of the Opposition (Mr M. J. Savage), waited upco the Prime Minister (the Rl. Hon. G. W. Forbes) yesterday with the object of placing before him the claims of the official Opposition to another representative on the Monetary Committee which has been set up by the Government to investigate the monetary problem. The deputation also placed before Mr Forbes the Opposition's claim to be consulted as to who should be placed upon the committee before any appointments were made. In the mailer of the order of reference, Mr Savage slated thai unless the Government was inclined to permit a full investigation of the existing monetary system, very little good could come of the enquiry. Whatever failures there had been in the past were made under the existing system, which should be investigated with possible alternatives. That was really the recommendation of the Parliamentary Committees. Prime Minister's Reply Replying to the deputation the Prime Minister stated that the order of reference did not include any investigation into the existing monetary system except in the way of reference when considering alternative schemes. Those who had alternative schemes had complained that they had no means of putting forward their proposals: this was their opportunity. The Government supported the existing system, which it knew was not p'-rfect: but it was j the best known up to the present. A secretariat was to be appointed to the committee, and they would be able to conduct any cross-examina-tion of the witnesses for the benefit of the committee. He could not agree to allow the Opposition to nominate its own members lo the committee. The Government had to accept full responsibility in the longrun. In the matter of the claim for another representative by the Opposition Mi- Forbes said he would discuss that with his colleagues and reply later. If the present members found it impossible to act, the committee would go on without them. PERSONNEL OF SECRETARIAT O'KK.SS ASSOCU'iION' TKI.KUIiAM.'I "WELLINGTON, February 10. The secretariat associated with the ] Parliamentary Committee on the cur- j rency investigation comprises Mr B. C. Ashwin. assistant secretary to the Treasury. Dr. W. E. Sutch, of llkj staff of the Minister for Finance, and Mr D. W. A. Barker. Treasury oilicor. The committee commences its sittings at Wellington on Tuesday. j