CAN "FREEZE" INDUSTRY
POWER OF BANKS
Attacking the private banks and adTocating Labour's plan for a. State Flank, Mr. T. Brindle said yl Kaiwarra last evening while advancing his candidature, for the Suburbs scat, that the brinks were more powerful than Governments in New Zealand; they dictated the policy of Governments.
" "Whjfe; the speech of a back chair
man receives more publicity than Ihe remarks of the Prime Minister," he said. "The banks, by calling in credits and manipulating the bank rate and the rate of exchange, can freeze industry altogether—they are doing it at the present time." The Labour Party stood for the systematic control of the credit of the Dominion through a State Bank—ti bank for the people, owned by the people, and giving the people the benefit of credit management to enable industry to thrive on its own merits.
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Bibliographic details
Evening Post, Volume CXII, Issue 124, 21 November 1931, Page 15
Word Count
142CAN "FREEZE" INDUSTRY Evening Post, Volume CXII, Issue 124, 21 November 1931, Page 15
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