MONETARY COMMISSION

Poverty Bay Herald, Volume LXI, Issue 18503, 15 September 1934, Page 6

MONETARY COMMISSION

REPORT DISAPPOINTS AUCKLAND CRITICISM (Bi-r Press Association.) AUCKLAND, this day. Dis.-i ppoint men I was expressed in A ind; land 10-day witli lhe Monetary ( 'urnmis-ion’s report. Alt' A. AL Seaman, chairman of tin* A -soi-'a! ci| (.'liamiier.-, of ('oinmerer, was lint di.-.po'-ed to discuss t lie repot", . inn said Iha I it showed the futility of appointing a nuii-c\-pen com ie ill ee In deal with a highly 1 ee'iinil'll I miojoci. Dr. E. 11,I 1 , \cnlc, sec ret arv of the A ucl: land ( T.n inner of I 'ounnerco, said Iha I a , v H eroiiiiin Ist s could lot ve 'Aid: mn the report in two or three dim. The apooiiii men lof a I’a rliameutary Commiller was a very ciiiii- .!•• i'mii':,' way of achieving a minor re -i:I!. Al r \V . .1. 11 old.-.a oi Pi . rhairman of the Ci I i/.eii.. ’ ('uni mit tee, said that he could see really nothing in the report. What it rrrnmmrmlrd had ipeen coming alioui an ! iiiii.'i t ica Ily on the banks’ n: ii iiiit ia I i ve. Mr A. E. Robinson, vice-president of the Douglas Credit Association, said that the majority report simply whitewashed the Government for setting u'p the Reserve Bank and raising the exchange rate. The minority report would live when the other was forgotten. He asserted that Major Douglas’ proposals had been deliberately misinterpreted and that 'the publication of the report had been purposely deferred so that it could ho used in Australia to-day against file Douglas credit, candidates.