RESERVE BANK PLAN

New Zealand Herald, Volume LXX, Issue 21617, 9 October 1933, Page 11

RESERVE BANK PLAN

GOVERNMENT'S PROPOSAL CHANGES IN THE BILL STATEMENT BY MR. COATES [by telecrai'h —rnsss association] WELLINGTON, Sunday "In view of various speculations in circulation concerning possible changes that tho Government may bo making in the Reserve Bank of New Zealand Bill, I should like it to be known quite definitely thai? no decisions have been arrived at," said the lit. Hon. J. G. Coates, Minister of Finance, to-day. "Many representations have been made to and considered by tho Government and a Government caucus, but as yet there is nothing drafted. In fact, after other interested parties have been consulted, another caucus will bo held for further discussion of any possible changes, if these should prove necessary and desirable.

"I may say that tho bill will remain substantially as at first presented as far as general principles are concerned. There will be no major changes in the method of the working of the Reserve Bank. Tho main principles will be there. "In the meantime I can make no statement as to any minor alterations, because nothing has been decided upon." OPPOSITION TO BILL DOUGLAS CREDIT ADHERENTS Opposition to tho proposals contained in the Reserve Bank Bill was expressed by a deputation representing branches of the Douglas Credit movement in the Parnell electorate, which waited on Mr. W. P. Endean, M.P. for Parnell, on Saturday morning. The speakers were Messrs. F. C. Jordan, A. B. Adams, D. Donaldson and A. H. Gee. They said 75 per cent of the electors of Parnell were opposed to the bill and they requested Mr. Endean to vote against the bill in Parliament. Mr. Endean said he would vote in the manner which he considered would be in tho best interests of the country. QUESTION IRRELEVANT INCIDENT AT HAMILTON An effort to promote discussion on the Reserve Bank of New Zealand Bill was effectually cheeked at the annual meeting of the Farmers' Co-operative Auctioneering Company, Limited, in Hamilton on Saturday. Mr. E. M. Masters asked the chairman, Mr. W. Seavill, what was the company's attitude toward the bill. Mr. Seavill replied that Mr. Masters would want the Douglas credit system discussed next. He believed that every shoemaker should stick to his last. Air. Seavill ruled the question out of order as being irrelevant.