CONTROL OF BANKS

Evening Post, Volume CXXVI, Issue 7, 8 July 1938, Page 5

CONTROL OF BANKS

IN INTERESTS OF PEOPLE

Mr. T. H. McCombs (Government,

Lyttelton) said that a great deal'had "^ been heard from the Opposition and "^ its supporters about the possibility of Z, the banks being closed, but if such a policy was in existence he had not heard of it. The introduction of V methods for controlling the banks was '.'■'. a-different question, and it was only proper that the banks should be con■i- trolled in a fashion that was in the best interests of the people as a whole and not in the interests of a few. Mr. McCombs said that if the Leader of the Opposition and his followers in- *■ side and outside Parliament believed S they would induce the general public % to elect them to power on the negative 2 Policy they had been propounding they y, were 'making a mistake. "As a matter | of fact being mistaken runs in Mr. family," declared Mr. Mc- " Combs. "Mr. Hamilton's father paid 5 ten shillings for the first pair of rab- ~ bits released in Southland. He thought ,- rabbits would be useful and would do *' well in Southland." Mr. McCombs also referred to the Government's housing policy, stating -r that in two years the Government had built double the number of houses erected by its predecessors in six years, He denied that there was a great demand by the people to possess their own homes, declaring that the majority preferred to rent houses rather than undertake a liability that would prevent them from moving around the country. Many people had found that, the ownership of a home * had meant th* sacrificing of chances of V- promotion, Mr. McCombs said. *■; PRICES OF STOCKS. Mr. C. K. Petrie (Government, Hau>x raki) suggested that the Opposition T' speakers (appeared to regard the prices „ f- quoted for New Zealand stocks on the > ] London market as the test of good * * government, but Labour applied the '•■■ test of the happiness and prosperity 'X. of the people. They should have 'X security and not be agitated by the L poverty scare which the Opposition --"were fond of presenting. He contended that the Government endeavoured *** to apply Christian principles to econois» mic problems and bring social justice £>« to the people of New Zealand, because i*- economic poverty was contrary to the principles of Christianity. The Leader „, of. the Opposition might not under- *' stand that philosophy, but he had no 3|-.jright jitw ijjrnpute unworthy motives to the Government. Having been brought up in the austere atmosphere of the !*.-, middle ages Mr. Hamilton seemed to be annoyed by the idea of human happi- ** ness. H Mr. W. J. Poison (National, Strat■rj ford); That is a Christian thought. **>, Mr. Petrie declared that Labour had 2 thought out its policy and refused to be tied to orthodox methods. It had v't the courage to challenge the old order of things to improve the people's lives.