BANK OF NEW ZEALAND

Greymouth Evening Star, 19 July 1945, Page 2

BANK OF NEW ZEALAND

FARMERS OPPOSE PURCHASE WELLINGTON, July 18. Disapproval of the Government s intention to take over private shares in the Bank of New Zealand, for which it had obtained no mandate from the people, was expressed by a unanimous resolution of the annual conference of the New Zealand Farmers’ Union to-day. Mr B. S. Williams (Havelock North) submitted the motion. If the bank went, they were a long way on the road to complete Socialism, said Mr R. O. Montgomerie (Wanganui). They had to take a stand. He was averse to direct action, but if they were fighting for a high principle they should go the whole way. _ .. . . Mr S. Hannon (Feilding) said his district had sent him to the conference to ask for leadership. They would be behind any action the conference recommended. They wanted some direction as to what to do, and were not getting it. That feeling was not confined to his district only. He wanted to take back some assurance. If they were only to sit down and do nothing all was lost. Air R. G. Buckleton (Mahara) suggested that the conference stand adjourned to ascertain what actions the Government would take regarding the banking legislation, the census, the country quota and stabilisation. This would enable the organisation of direct action to combat the Government’s intentions, which were a direct attack on the farming community and the foundations of freedom and democracy. Mr R. W. Dunning said a committee on direct action was set up at the .1944' conference, but nothing had been heard of it. „ . Air W. W. Mulholland, the president, said he had informed those con--cerned that he did not think the union would take part in the big deputation of businessmen to Parliament, but it -might take similar action on its own account. • • x • „ Farmers would be unwise. to rise in simulation of wrath on this issue, said Mr J. H. Furniss (Auckland). They had in the past surrendered to exproprietory acts, the effect • ol which on farmers were greater than this one might be. What support had they received from businessmen in years gone by? He did not approve ol taking over the Bank of New Zealand, but for years they had allowed unjust acts to affect them, and did nothing but. pass motions. They would be called on at no distant date to’ conserve all their energy to defend their own interests. They must not dissipate their spiritual and material resources on issues that did not vitally concern them.. They should concentrate on such issues as preventing the nationalisation oi their produce, the country quota, and the unbearable burden of hospital taxaMr A. E. Robinson (Auckland) .said that when they fought lor agricultural banking the Bank of New Zealand was their biggest enemy. When they got intermediate credit, the bank howled for a counterpart, and got it, using the funds in part to finance a film'company in Christchurch and a theatre in Auckland. It was decided to set up a committee on the bank question.