PROFITABLE PLUNDER!
A DANGEROUS SUGGESTION Some of the propagandists for the State Bank proposal argue that the profits of the Bank of New Zealand — if acquired by the State—will provide a handsome addition to the national exchequer. If that’s a good argument for socialising a Bank, then it can (and will) be extended far and wide. The State planners and socialisers will next be looking for the most profitable woollen mill—a successful soap works—a big motor firm—a clothing warehouse —a chain of retail stores. The “ profit ” argument in the case of the State ownership of the Bank of New Zealand is plausible and cunning. Its acceptance will be a precedent that will have no limit short of Socialising all the means of production, distribution, and exchange. State control of banking and Industry will lead to inefficiency, favouritism, and bureaucracy. We have seen the effects of State interference before our eyes. Furthermore, State socialism leads to despotism and complete loss of freedom. Other countries have seen it happen. It can happen here, and It will happen if the “wild men” are allowed to have their wav. Speak up for freedom. Write or wire your protest to your member to-day. —l3.
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Bibliographic details
Otago Daily Times, Issue 25865, 8 June 1945, Page 8
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199PROFITABLE PLUNDER! Otago Daily Times, Issue 25865, 8 June 1945, Page 8
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