OPPOSED IN VAIN

Manawatu Standard, Volume LVI, Issue 109, 8 April 1936, Page 10

OPPOSED IN VAIN

RESERVE BANK BILL. HOUSE PASSES MEASURE. Per Press Association. WELLINGTON, April 7. The House of Representatives resumed at nine o’clock, when the third reading of the Reserve Bank Amendment Bill was taken. lit. Hon. J. G. Coates repeated his protests against the haste in which the Bill was being put through and appealed to the Minister of Finance to consider the position of those who had purchased the bank shares at a greater price than £6 ss, thinking they were a safe investment, especially for trustepi. Hon. G. AV. Forbes said lie had great hopes for Hon. W. Nash as a businessman in being able to withstand pressure, because there would be such enormous demands to finance the Government’s cornprenhensive programme to secure happiness for all. Several Opposition members added protests to what they called the unseemly haste with which the Bill was being put through. Mr AV. J. Poison complained that the Opposition had signally failed to get any information from the Ali.nister. He had never experienced such a situation before, and it was especially important that all the information possible should be given when such an important measure was before the House. He thought the speakers were entitled to some elucidation on the points raised during the debate. The Opposition had not obstructed the measure as they might have done; they had merely sought information, hut they had not received the co-op-eration from the Government that the latter were always talking about. Air S. G. Smith again twitted Labour members with their silence, but evoked no response. Air Nash said it would have been lmposible for the present Government to have applied the closure had it not been for the Coates Government. Air Coates: No. Sir, I was in Opposition. It was the United Government. Air Nash said the division lists at the time would show, and if lie was wrong he would apologise to Air Coates not he brushed aside, said Mr Nash, as the • Government wanted tlieir advice. Air A. Hamilton: Provided it doesn t come to a clash. Air Nash: AA r e won’t use the coercion measures suggested all night—by the Opposition. . The Government would discuss thenpolicy measures with the hank officers and their advice would he heeded, the Alinister added. He had been assured by the chairman of the Associated Banks that the hanks would co-operate with the Government even though they did not like some of the Bill’s clauses. On a division being taken tlie third reading was carried by 55 votes to 17-