Socialist Party’s Policy

Hawke's Bay Tribune, Volume XXV, Issue 57, 19 February 1935, Page 6

Socialist Party’s Policy

(To the Editor). Sir,—ln reply to N.Z. Welfare League, 1 wish to inform him that there is not one clause of the Socialist Party’s “declaration of principles” to be found in the Labour Party’s programme. Also, that I challenge th* N.Z. Welfare League to publish a true delinition of the objective of the Socialist Party, and the N.Z. Labour Party, and principles of both parties. In the event of the league not being in possession of same, should he call around and see me sometime, 1 will oblige him with a copy when he will agree that there is as much difference in the programme of both as there i* between night and day. Sir Stafford Cripps, M.P., who 1 delinitely state i* not, and never was, a member of the Socialist Party of Great Britain, ia a member of another reform organisation known as the “Socialist League,” which ue, Sir Charles Trevelyan, M.P., Mr. Jim Maxton, M.P., and Mr. Kirk* wood, M.P., formed a branch of when they left the Labour Party, which N.Z. Welfare League tells us they are affiliated to. Such a statement should be framed. Notwithstanding what the Labour I J arty may say about being a Socialist Party, they are in no way connected with the Socialist Party u£ Great Britain. Now, N.Z. Welfare League asks why the State Government Savings Bank* of Australia (if they exist, lie emphasises) do not transact banking business. Now then for N.Z. Welfare League's enlightenment. In 1928, savings bank deposits showed an aggregate of more than £225,000,000. Th® difference in the State Banks, and the Commonwealth Bank of Australia is that the latter controls the Commonwealth note issue. No other bank in Australia has any say in this vital matter. Details of amounts lent on interest bearing deposits to the Stat* Government of N.S.W. by the Government Savings Bank of New South Wales, up to the time of its cloeure by vested interests in 1931 are as follows:—Year 1871 £15,710, Sir Jas. Martin; 1891 increased to £2,715,025, Sir Henry Parks; 1923, increased to £3,(08,500, Sir George Fuller; 1924, increased to £4,742,079, Sir George Fuller; 1929, increased to £7,880,050, Mr. T. H. Bavin; 1930 decreased by repayments to bank of £1,150,000 to £0,930,000, Mr. J. T. Lang. Although the various Premiers of New South Wales, as will be seen by the above, hud transacted busines* since 1871, with the Slate Bank of New South Wales, N.Z. Welfare League admits that neither he nor hi* friend* (for he mentions us) knew of th* existence of State Banks. Therefore, he is to bo excus'd for nut knowing of the reorganisation of the Commonwealth Bank in 19t'3, when, in spite of a gigantic public protest, that institution was taken away from any Governmental control, when it was placed under a board of control with the lat* Sir Robert Gibs' n a* chairman. We must also excuse him for his mistate* meat re Sir Stafford Cripps, M.P., as it, is hardly feasible that he would know what is happening twelve thousand miles distant when he is so much out of touch only twelve hundred miles away. Some Welfare League, to be sure.—Yours, etc., E. H. DALLEY, Secretary, Hastings Branch N.Z. Socialist Party. Hastings, Feb. 18.