THE BANKING BILL.

Oamaru Mail, Volume XXXIX, Issue 12306, 5 August 1914, Page 5

THE BANKING BILL.

' SAVING THE GOLD

By Telegraph.,

(Pkk Phess Association.) August 4

In the .House this afternoon,

• The Hon. James Allen moved. «is a matter, of urgency that the House proceed with tho Banking Bill lyj The House went into Committeo on the Bill. The Bill was passed with niacliinery amendments. A.new clause was added on the motion of tho Minister, prohibiting the exportation of gold during the course of proclamation except with tlio consent of the Minister. -

On the third reading Sir Joseph Ward said he entirely agreed with tile provisions of the Bill. It was a good measure in normal times, and even more so in times of panic. He paid 1 a; tribute to tho strength of the banks doinp; business in New Zealand, but expressed tho liopo that those responsible for the management'would not do anything in the present situation Tto unduly force u]> tho rates of interest. Mr Allen, in reply, said he quite agreed with what Sir Joffeph Ward had said. Ho had seen the bank managers and felt sure there would be no attempt tu inflate tho rate of interest. He had.assured himself that the banks were stronger to-day than they liad: ever been. If England became involved' in a European war, .it;might bo that we would bo asked to make sacrifices, but in that event lie felt sure that 'New Zealand would make those sacrifices to assist the Empire to which we belong. The: Bill was read a third time tvnd passed.