RESERVE BANK BILL

Timaru Herald, Volume CXXXVII, Issue 19624, 19 October 1933, Page 8

RESERVE BANK BILL

GOVERNMENT’S HASTE CRITICISED MEETING OF CHAMBER OF COMMERCE The Council of the South Canterbury Chamber of Commerce met last night. Present—Messrs A. P. Greenfield (president), J. Anstey, J. Cleland, G. D. Virtue, A. N. Oakey, A. M. Kilgour, C. E. Kerr, F. Oxford, A, J. Ailport, G. H. Andrews, C. G. Williams, J. M. Jenkins and W. G. Irwin. A report was received from a special committee of the executive of the Associated Chambers of Commerce in regard to the Government s proposals for the establishment of a Central Reserve Bank, a matter which would be discussed at the forthcoming conference of the Associated Chambers at Wellington. “In the Dark.” Some members expressed the opinion that they were completely in the dark concerning the proposal, Mr Kilgour stating that the Government should have given the people of New Zealand more opportunity of discussing the matter before it was placed on the Statute Book. Mr Jenkins said that the Chamber's delegate should be given a direction as to how to vote. The question was a big one, and it seemed hardly fair that Mr Virtue should be asked to register the opinion of the Chamber without some mandate. It was agreed, on the motion of Messrs Andrews and Oxford, that Mr Virtue use his discretion in voting after hearing the views of the conference. It was further agreed on the motion of Messrs Kilgour and Virtue that the Associated Chambers be asked to protest against the action of the Government in proceeding with the Reserve Bank Bill without making known its proposals to the public. General. The president and Mr Andrews were appointed to represent the Chamber on a special committee which is to meet to-night to discuss the stamp scrip plan. Mr A. Hurst was appointed to the Council of the Chamber in place of Mr P. B. Foote, who had resigned. The appointment of Councillor Benstead to represent the Borough Council was approved.