ACQUISITION OF BANK
THE GOVERNMENT’S CASE
(P.A.) NELSON, May 18. Addressing a public meeting on the Government’s case for taking over and operating the Bank of New Zealand, Mr F. Langstone, M.P., said that interest rates would be reduced and the bank would be even more efficient and less bureaucratic than ever before. The State had the prerogative to create legal tender, but it was more important that the creation of credit should be the prerogative of the State, Mr Langstone said. More liberal financial accommodation could be given local bodies and manufacturers. The Government would see that the credit of the nation was used in the interests of the nation. The business of other public services could be “ funnelled ” through the State-con-trolled bank.
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Bibliographic details
Otago Daily Times, Issue 25848, 19 May 1945, Page 6
Word Count
124ACQUISITION OF BANK Otago Daily Times, Issue 25848, 19 May 1945, Page 6
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