MONETARY COMMITTEE OF 1934
♦ MR HOLLAND’S EVIDENCE MENTIONED (From Our Parliamentary Reporter.) WELLINGTON, July 4. Reference to the evidence of the Leader of the Opposition (Mr S. G. Holland) to the Monetary Committee in 1934, before his election to the House of Representatives, was made in the • House this evening by Mr H. E. Combs (Government, Wellington Suburbs). Mr Combs said the evidence of Mr Holland supported his contention that the purchase of private shares in the Bank of New Zealand would not be inflationary. Mr Combs said Mr Holland had put forward a plan that New Zealand’s internal debt should be wiped out over a period of years by giving the holders of scrip Reserve Bank notes when their contracts expired, on maturity. That contemplated giving £60,000,000 of Reserve Bank notes over, a period of years. Mr Holland: You are not telling the story fairly. You know that. Mr Combs said Mr Holland's evidence was recorded in the report of the committee.
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Press, Volume LXXXI, Issue 24610, 5 July 1945, Page 4
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163MONETARY COMMITTEE OF 1934 Press, Volume LXXXI, Issue 24610, 5 July 1945, Page 4
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