CURRENCY REFORM

New Zealand Herald, Volume LXXVII, Issue 23592, 28 February 1940, Page 13

CURRENCY REFORM

FURTHER BANK CONTROL " .VIEWS OF MR. J. A. LEE, M.P. "I believe Tve should own and control In its entirety the Bank of New Zealand, and I will not be happy until we do," said Mr. J. A. Lee, M.P., in an address at an open-air meeting at the Westmere' School last night. "Even if I am politically thrown downstairs, every year I'll be climbing up again as long as 1 am member for Grey Lynn." Voices: Hear, hear! At the conclusion of his address, Mr. Lee was asked if the views 'he had expressed on'currency reform had the approval of the Minister of Finance, the Hon. W. Nash/ In reply, he said the Labour Party had made substantial advances. While Mr. Nash was Minister of Finance the Government had overdrawn at the Reserve Bank to the extent of £22,000,000. "I can say that if Mr. Forbes, Mr. Coates or Mr. Hamilton had been Minister of Finance, we would have cut wages and pensions to the extent of £22,000,000."' Mr. Lee said. "Though 1 may not be able to get everything I want, I prefer the Government that has spent that money." ■ Mr. C. J. Barker, president of the .Westmere branch of the.Labour Party, presided over an audience of about 350 people. At the conclusion the meeting carried by acclamation a vote of thanks to Mr. Lee for his address, of continued confidence in him as a progressive member of the Labour movement, and of confidence in the Labour Government.