THE COMMONWEALTH BANK

Maoriland Worker, Volume 12, Issue 299, 22 November 1922, Page 6

THE COMMONWEALTH BANK

Labour's Social Enterprise Profits for this People

Between tho years ' 1010-13, when the Labour -Government under the Prime Ministership., ,of, Andrew Fisher , was in, power, the Commonwealth Bank was established. . In profits'. and savings this Bank has effected a financial gain to the community of £20,000,000. How tn-B social service was .achieved is set out as under:. Australian notes, net--.profits £10,----000,000. • Commonwealth Bank, net profits £4,000,000. ' Saved by Bank ■on flotation- of War Loans at 5/9 per cent.', as against private Bank charges of £2/7/1 per cent, £6,000,000. Total, £20,000,000. ■■'..' This amount was earned and saved IN TEN YEARS by banking legislation to the credit of Labour. Why not in New Zealand? Vote Labour, and threw off tho Financial Vampires by instituting a BANK OWNED BY THE NATION OF NEW ZEALAND, wbieh shall control publfc credit through a monopoly of note issue.