DOMINION MONEY POLICY

Taranaki Daily News, 14 July 1933, Page 9

DOMINION MONEY POLICY

FARMERS’ UNION’S DESIRES OPPOSITION TO CENTRAL BANK. SUGGESTION FOR AN INQUIRY. CONTROLLED INTERNAL SYSTEM. By Telegraph—Press Association. Wellington, Last Night. The following remit from Auckland was discussed by the Farmers’ Union to-day: “That this meeting protests against the Government bringing down legislation to set up a central bank, and that though the Central Reserve Bank Bill has been temporarily postponed by the Government this conference considers extreme vigilance should be exercised and every constitutional means adopted to prevent the subjugation of New Zealand’s monetary system by interests not directly under the control of and answerable to Parliament.” The remit was carried unanimously. A further remit from Manawatu was carried: “That in the opinion of this conference the time has arrived when the Government should be asked to bring about a controlled internal monetary system.” A further remit on the same subject was submitted from Nelson: “That the Government institute an inquiry, resided over by the Supreme Court judge, into the present monetary system and all possible alternatives to end, that the Government may take such action as may be necessary to cause the monetary system to fit the legitimate requirements of national organisations.” An amendment that a select committee should make an inquiry was proposed later, and carried. Several other remits, it was agreed, should be referred to a. small committee to embody in a suitable remit, the committee to consist of Messrs, H. M. Rushworth, Best and Little.