MOTUEKA BY-ELECTION.

Manawatu Standard, Volume LII, Issue 291, 7 November 1932, Page 2

MOTUEKA BY-ELECTION.

(To the Editor.) Sir,—Judging by reports the Motueka by-election has begun, and I notice that one candidate, Hon. Mr R. (McKenzie, although lie calls himself Lib-eral-Labour, pledges himself to support tho present private banking system, and will oppose any interference therewith. As Labour’s policy stands four-square for the nationalisation of banking, I trust that this misguided gentleman will drop the title of Labour and dub himself the “Bankers’ Liberal” candidate. I will not take him seriously either, when lie states the Forbes-Coates Government is opposed to private banking, as thenproposed State Bank is just a sugarcoated pill, no doubt designed to fool tho people a little longer, but in the main to try and prop up the present decaying banking system. The appointment of a Board of Control, similar to the Board of Control under tho chairmanship of Sir Robert Gibson, now controlling tho Commonwealth Bank of Australia, will just as effectively place the State Bank on the same footing as the other trading banks throughout the Dominion, as Sir Robert Gibson has placed that one-time great national institution of Australia, the Commonwealth Bank. So I_ am afraid that if our friend’s mission is to induce the workers to believe that the Forbes-Coates Government stands for the nationalisation of banking—the workers now fully realiso the meaning of the Government’s slash and cut policy on their plea of economy to which they are pledged with oversea financial interests—my advice to him is to go homo, place the money he is spending in safe deposit and occupy his time bv taking a three months’ course on human psychology, and. apparently, a course on nationalisation of banking may improve his limited vision on this all-important subject.—l am, etc., H. DALLEY, Palmerston North. November 6, 1932.