MONETARY COMMISSION

Otago Daily Times, Issue 22369, 17 September 1934, Page 10

MONETARY COMMISSION

OPINIONS ON REPORT DISAPPOINTMENT IN AUCKLAND. (Peg United Pkes3 Association) AUCKLAND, September 15. Disappointment was expressed in Auckland to-day with the Monetary Commission's report. Mr A. M. Seaman, ■chairman of the Associated Chambers of Commerce was not disposed to discuss it. but said it showed the futility of appointing a non-expert committee to deal with a highly technical subject. Dr E P. Neale, secretary of the Auckland Chamber, said that any two economists could have written the report in two or three days. The appointment of a Parliamentary Committee was a very cumbersome way of achieving a minoi result. , . „ ~ Mr W. J. Holdsworth, chairman of the Citizens' Committee, said he could see really nothing in the report. Whut it recommended had been coming about aii'omatically on the banks' own initiative. Mr A. E. Robinson, vice-president of the Douglas Credit Association, said that the majority report simply whitewashed the Government for setting up the Reserve Bunk and raising the exchange rate. 'J lie minority report would live when the other was forgotten. He asserted that Major Douglas's proposals had been deliberately misrepresented and that the publication of the report had been purposely deferred so that it could be used in Australia to-day against the Douglas Credit candidates.