BANKING PRACTICE.
NATIONALISATION “EVILS.” Received January 25, 1.55 p.m. LONDON, Jan. 24. At the annual meeting of the Midland Bank, Sir Reginald McKenna, who presided, referring to the proposal to nationalise the banks, said there was no compensating benefit to set against the grave evils which must arise if all the banking power were concentrated in one hand. Monopoly would still be monopoly, even though under direct State management and control. Replying to the allegation that the banks were making excessive profits, lie said lie doubted if the dividends paid amounted to as much as 5 per cent, on the accumulated funds belonging t-o the shareholders.
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https://paperspast.natlib.govt.nz/newspapers/MS19350125.2.62
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Manawatu Standard, Volume LV, Issue 49, 25 January 1935, Page 7
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106BANKING PRACTICE. Manawatu Standard, Volume LV, Issue 49, 25 January 1935, Page 7
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