DRIFT TO SOCIALISM

Southland Times, Issue 25680, 24 May 1945, Page 6

DRIFT TO SOCIALISM

BANK OF N.Z. A TEST CASE

For several years past the Labour Government has been cunningly using its war-time powers to get a tighter stranglehold on private business, to widen the scope of State control, and to eliminate business competition. All these things are steps along the road towards complete State socialism and Trades Union dictatorship. Now that victory has been won in Europe, public opinion may force the Government to loosen some of its restrictions and controls. But before that happens they intend to take a giant leap towards the Socialist goal by getting ownership and control of the Bank of New Zealand. They can then sit tight and manipulate the people’s money for their own political purposes, to their heart’s content. Money control means business control and job control. = ’ • No word has been said to indicate that State control of the Bank will be of any benefit to the Bank’s customers or to the general public. The only “benefit” will be more power to the political big-wigs of the Labour Party —the Trades Hall Dictators. What they want most is power—power over the lives, the businesses, the jobs, and the money of the people. The freedom of the ordinary man arid woman is no concern of the Socialist fanatics. They are slaves to a creed —State control of everybody and everything. People who want to abolish the competitive system—who want everybody to work in State factories, on State farms, and to trade with a State bank—are demanding file doom of individual freedom. The future of the Bank of New Zealand is a test case. The public should protest and declare: “Leave the Bank alone.”—P.B.A.