BANK NATIONALISATION
LONDON, February" 2. Speeches by the chairmen at the meetings of the "Big Five" banks have as usual been read with much interest, particularly the remarks-made in. respect of the nationalisation campaign. Commenting editorially • thereon "The Times" says: There can .hardly be a competent critic -familiar with the history of central banking who would regard nationalisation as understood by the Labour Party .as anything short of a calamity. Subordination of monetary policy to the exigencies of party politics would inevitably lead to immediate disaster, and who could guarantee that the protagonists of Socialism, once in power, would be immune from such temptation? Nor would nationalisation of the joint-stock banks prove any less damaging to the interests of the nation, for -what motive can lie behind this clamour for nationalisation except, a desire to effect violent changes-in the manner in which these institutions conduct business—changes which would definitely be directed to political ends?
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Bibliographic details
Evening Post, Issue 29, 4 February 1935, Page 9
Word Count
154BANK NATIONALISATION Evening Post, Issue 29, 4 February 1935, Page 9
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