AGRICULTURAL BANKS

New Zealand Times, Volume L, Issue 11409, 4 January 1923, Page 10

AGRICULTURAL BANKS

The extraordinary exercise of authority by the Massey Government, since its defeat at the polls, in gazetting the notes of the private banka in finis country “legal tender” until 1925, is a matter that should arouse the seventeen Labour members to a solemn sense of duty. Prior to the elections the Massey administration made l these banks a present of 2620,000 each in round figures by reducing their income tax, and at a time when they were cutting down workers’ wages. Surely this latest Government favour will cause Labour members, when taking their oath of allegiance to the Crown, to also take an oath to rid New Zealand for ever of the fat man's Massey Government. Labour should stop red flag-waving ano all unconstitutional propaganda in order to elect Mr Wilford Premier of this Dominion, so that he can immediately annul the Massey party’s legislation and regulations that favour the rich at the expense of the poor. M.r Wilford can be relied upon to immediately establish a State Bank, with the sole right of "legal tender” note issue, and which hank all other banks in this Dominion would have to obtain currency from, because if they released their gold it would soon scatter to China and other parts of the world. The salvation ot New Zealand from the evils of the Reform Government and administration rests with the Labour section of Parliament.—(Published by Arrangement.)