BANKING BILL.
INTRODUCED IN PARLIAAIENT. Per Press Association. WELLINGTON. July 22. In introducing the Bank of Neiv Zealand Amendment Bill in the House of Representatives to-day Air F. Langstone (Labour) said he hoped the Government Yvould take over the measure. There Yvas urgent need for monetary reform to meet the conditions at the present time. The Yvorld had never known more Yvealth than there Yvas to-day. but in spite of that people Yvere starving. There were not enough consumers of capital and if the banks could not supply the remedy the State would liaY-e to step into the breach. While there YY-as Yvidespread poverty the Bank of New Zealand Yvas still paying big profits. The New Zealand Government in 1894 had come to the aid of the Bank of New Zealand by creating credit and credit Yvas what Yvas required to-day. The Government Yvas becoming more and more subject to. the domination of hankers and it Yvas a pity the Bank of New Zealand had not become a State Bank in 1894. If his Bill passed it Yvould go a long Yvay towards achieving that result. Bankers could create credit if they wished at tho preBern; time. The Bill Yvas read a first time.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19310723.2.16
Bibliographic details
Manawatu Standard, Volume LI, Issue 198, 23 July 1931, Page 2
Word Count
204BANKING BILL. Manawatu Standard, Volume LI, Issue 198, 23 July 1931, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in