COMMONWEALTH BANK
CENTRAL RESERVE POWERS GOVERNMENT CONSIDERING (Keceived March 31. 8.45 p.m.) CANBERRA, March 31 The Attorney-General, Mr. J. G. Latham, announced in the House of Representatives to-day that the Government is considering a plan to provide the Commonwealth Bank with the complete powers of a central reserve bank, also for the separation of the bank's central reserve and trading functions. The Leader of the Opposition, Mr. J. H. Scullin, has urged the appointment of a Royal Commission on banking and currency and advocated giving the Commonwealth Bank complete control of banking. In reply, Mr. Latham said the Government was not willing to do this as any action which might arouse apprehension at present would be ill-timed. The nationalisation of credit might very easily mean the destruction of credit.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19330401.2.81
Bibliographic details
New Zealand Herald, Volume LXX, Issue 21456, 1 April 1933, Page 11
Word Count
129COMMONWEALTH BANK New Zealand Herald, Volume LXX, Issue 21456, 1 April 1933, Page 11
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in