Not Buying More Banks
( P A.) WELLINGTON. This Day. Having purchased the shares of the Bank of New Zealand, and bearing in mind the control exercised by the Government over the banking system generally through the State-owned Reserve Bank of New Zealand, the Government did not propose to proceed further along these lines under existing circumstances, said the Ministei of Finance iMr Nash) in the House of Representatives yesterday afternoon. The statement was contained in a written answer to a question as to whether the banks would beSnationalised in New Zealand on lines similar to those announced in Australia. Mr Nash told another questioner that this reply also answered the inquiry as to whether branches of nationalised Australian banks would be allowed to coiY.pete with the Bank of New Zealand.
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Northern Advocate, 28 August 1947, Page 9
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130Not Buying More Banks Northern Advocate, 28 August 1947, Page 9
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