MONEY INQUIRY

Press, Volume XCI, Issue 27679, 8 June 1955, Page 14

MONEY INQUIRY

HEARINGS TO BEGIN AGAIN TOMORROW

COMMISSION MAY SIT FOR SOME MONTHS

(New Zealand Press Association) WELLINGTON, June 7. After a fortnight’s adjournment, the Royal Commission inquiring into the country’s monetary, banking, and credit systems will resume its public hearings in Wellington on Thursday. Although its hearings have already occupied a month, the end is not in sight. With most of the submissions and evidence yet to be heard, the inquiry is likely to last for some months.

More than 100 written submissions have been sent in to the commission. About half of these are likely to be read in public appearances before the commission.

Regardless of the progress the commission makes ih Wellington this month, it has set July 5 as the starting date for an Auckland sitting, so as to have ample time to arrange accommodation. Later the commission is likely to hold a brief sitting in Chrfefr»i church.

„ the resumption of the hearings, the Secretary of the Treasury (Mr B. C. Ash win) will appear for further cross-examination by Mr F. C. Jordan, top Social Credit Association, and Mr F. P. Walsh, for the Federation of Labour. Then it is expected that the cross-examination of the chairman of toe Associated Banks (Mr H. W. .nyte) will proceed; Later submissions will be presented on behalf of the Socrn! Credit Association and the Federation of Labour. Among the submissions that will be heard in Auckland will be one on beS? U of J - Kether and' the Mirror Publishing Company, Auckland, whose counsel, Dr. O. C. Mazengarb, Q.C., has taken a prominent part lu c y° s ?-examination of witnesses at the Wellington sittings. At least six other organisations have been invited to make statements. They teciude the Capital Issues Committee, the Stock and Station-Agents’ Associa.tL°n ’ M t „ he Associated Sayings Banks, a e Zealand Building Societies’ Association, the Life Offices’ Associa- ! toe State Advances Corporation. After their evidence is completed progress is likely to be more rapid.