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Dominion, Volume 30, Issue 174, 20 April 1937, Page 16

“The usual criticisms directed at banks are that they do not lend enough when times are bad, and lend too freely when times are good: that they charge too much interest; that they restrict credit to make money dear; that they exercise some sinister and secret control over the nation’s money—and. in short, that they are thoroughly bad. These criticisms are generally uttered. I think, by people who simply do not know the real meaning of currency and credit: or else by the ‘currency cranks’ who always flourish during depressions. Of course, bankers are human, and sometimes they make mistakes in policy. But I venture to say these are honest errors, and not mere careless blundering.”—Mr. P. L. Porter, at the annual meeting of the Canterbury Economic Society.