EXCHANGE PROBLEMS
MR MASSEY EXPLAINS. (Our Parliamentary Reporter.) WELLINGTON, September 11. Further reference to the problem of exchange was made in the House of Representatives this afternoon when Hon J. A. Hanan (Invercargill) asked the Prime Minister, with regard to his statement of the previous day, whether the proposed Central Bank was to be a central reserve bank, or functioning as a bankers’ bank, or what would be its character or functions?
Mr Massey indicated in reply that he was not in a position to make a definite statement pending the conference he was holding with the bankers on Saturday. “The idea of the Central Bank, or central reserves bank, however,” said the Prime Minister, “ is a bank that would carry on the ordinary business of banking and might be used by other banks for certain purposes.”
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Southland Times, Issue 19347, 12 September 1924, Page 6
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137EXCHANGE PROBLEMS Southland Times, Issue 19347, 12 September 1924, Page 6
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