ECONOMY INQUIRY

Dominion, Volume 24, Issue 288, 1 September 1931, Page 11

ECONOMY INQUIRY

Evidence from Bankers

IMPORTERS’ VIEWS NEXT Sittings of the House IMPREST BILL TO-NIGHT An Interesting stage has been reached in the examination of the public finances of New Zealand by the Special Economic Committee of ■ Parliament, which held its first meeting of this week yesterday. Evidence .was taken from representatives of banking interests, the only two witnesses to be heard during the limited sitting hours of the committee being Mr. W. A. Kiely, chairman of the Associated Banks, and Mr. J. T. Grose, manager of the National Bank. It was intended that Sir Henry Buckleton, manager of the Bank of New Zealand, should be called yesterday, but he will probably give evidence to-day, when the committee will hold the usual morning and afternoon sittings, allowing the House of Representatives to sit in the evening. The Prime Minister, Rt. Hon. G. W. Forbes, had no report to make last evening. It is. understood the bankers were closely questioned by members of the committee concerning the relationship between the banks and the producers of this country, and also upon the operation of the overseas exchange Upon the marketing and sale of'New Zealand’s'primary produce in England. Particular interest will be shown in the evidence of Sir Henry Buckleton, 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. Certain importers have been empanelled to give evidence when the bankers have finished. Their evideuce will probably relate chiefly to the effect of the depression and the shrinkage in national income from the Customs figures for foreign importations. One phase of this evidence which will enlighten the committee will be importers’ views upon whether stocks of merchandise that are now getting low will or will not be renewed. High Customs duties may affect this policy to some extent and keep the Customs returns IOW. , . ~ , XV Parliament, which is to sit in the evenings this week, will be called upon to discuss an Imprest Bill this evening. This may occasion a late sitting. The Prime Minister Is Indefinite as to what the House will discuss later in the week. Last evening he /said he did not know, except that some private members’ Bills were awaiting attention. The Bill which will establish the Radio Board is ready, and might be brought down at afiy time. The Transport Licensing Bill, which is a more controversial measure than was at first thought, is also on the order paper. _________