RESERVE RANK

Hokitika Guardian, 10 July 1934, Page 3

RESERVE RANK

UNDUE RETICENCE ALLEGED WELLINGTON, July 7. The hope that the Governor ol the Reserve Bank, Mr Leslie Lefcaux, was not going to adopt the tactics of Air Montague Norman and wear a false moustache and dye his hair was expressed by Mr F. Lye in the House oi Representatives this morning, when complaining of the lack of information that was obtainable about tlie policy of the bank. “I .want to know something about the policy of the bank,” said Mr Lye. “Why is there such a lack of information about the proposals which are to be put into operation? The public is surely entitled to know what is going on. When one reads the newspapers one only gets vague references to the governor and the work of the hank generally. The legislation setting up the bank was passed eight months ago, but we have not the slightest idea ol what is going on. I agree that the Reserve Rank is going to play a very important part in the life of this country, particularly in bringing about the stabilisation of prices through the exchange rate, but I think the country is entitled to now just what is going

“The governor of the hank has recently gone to Australia, and one would like to know just how long he is going to stay there. I hope lie is not going to emulate Mr Montague Norman and wear a false moustache and dye his hair.”

Air Schramm : He is coming hack today. •

Air Lye. I am very glad to hear it. I think if we had a little more publicity in connection with the bank’s affairs it would be in the interests of the people. CONTRACTS WITH AUSTRALIA. WELLINGTON, July 9. The Governor of the Reserve Bank of New Zealand (Mr L. Lefeaux), who has returned ,by the Makui'a after a brief visit to Australia, h s declined to "comment on the trip, other than that he has been making contracts