No Mystery
What Labour Will Do With Reserve Bank
CABINET HAS FIVE-HOUR SESSION Per Press Association. "WELLINGTON, Last Night. Cabinet held an important meeting this afternoon, sitting for nearly live hours. Although the financial proposals are still being kept a closely-guarded secret, it was gathered that they formed the basis for the greater part of Cabjnent’s discussions. Absolute finality has not yet been reached, but the programme of financial legislation is well advanced. One of the first Bills to be introduced by the Government will be the Reserve Bank Amendment Bill and the Minister of Finance (lion. W. Nash) staled to-night that it would be a comparatively simple measure. A considerable degree of mystery bad been attributed to it, but actually it would merely give effect to the Labour Party’s election pledge that the Bank should be taken over entirely by the State.
A suggestion has been put forward in some quarters that the Government is considering the sale of the Reserve Bank’s remaining stock of gold as part of its financial proposals, but it is learned on good authority that so fat this point has not even come lip for discussion. If the remaining gold is to be sold, it can be taken as fairly definite that such a step will be only incidental to the new Government’s general financial policy.
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https://paperspast.natlib.govt.nz/newspapers/MT19360320.2.49
Bibliographic details
Manawatu Times, Volume 61, Issue 67, 20 March 1936, Page 6
Word Count
222No Mystery Manawatu Times, Volume 61, Issue 67, 20 March 1936, Page 6
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