RESERVE BANK

Timaru Herald, Volume CXLV, Issue 21181, 31 October 1938, Page 13

RESERVE BANK

I Full-Time Economist Mr G. Lawn’s Position Of the seven directors originally appointed in 1934 to the directorate of the Reserve Bank of New Zealand five have now retired. Only two appointments have been made by the Government. They were of Messrs Mark Silverstone (Dunedin) and George Lawn (Christchurch) in August, 1937. When the directorate was originally appointed a proportion of the capital of the Reserve Bank was held by private shareholders. The Governor (Mr L. Lefeaux) and the Deputy-Governor (Mr W. F. L. Ward) and the Secretary of the Treasury (ex officio) are members of the board. Since the Labour Government took office in 1935, five directors have retired. The first to retire were Messrs Norton Francis and Begg, and they were replaced by Messrs Silverstone and Lawn. Mr Ewen retired a year ago. It was generally known that another two directors had retired this year, but no announcement has been made by either the Reserve Bank or tlje Government. Further Retirements. Only Messrs Duncan and Anderson, of the original seven directors, remain on the board, which is now composed of four members, additional to the Governor, Deputy-Governor, and the Secretary of the Treasury (Mr G. C. Rodda). Resigns from University So as to give full-time service to the Reserve Bank in the capacity of economist, Mr George Lawn, who was appointed a director of the bank in 1936, has resigned from the position of lecturer in economics at Canterbury College. His resignation will come before the meeting of the College Council. Mr Lawn was lecturer in economics, teaching banking and currency, at Canterbury College for 10 years before he war granted one year’s leave of absence about a year ago. He was born at Lefroy, Tasmania, and came to New Zealand with his parents when he was two. His boyhood was spent in Greymouth and Reefton. He was appointed a pupil teacher at the Reefton School at the age of 16, and from 1898 to 1923 he was engaged in primary school teaching on the West Coast and at Gisborne and Woodville. When h; was appointed to the East Christchurch School in 1923, he was enabled to take a university course. He attended lectures at Canterbury College with the aim of taking a university degree, but he had at the time no intention of taking up a lectureship. He won the annual college prize in each of six examinations. The suggestion was made by Dr J. B. Condliffe, then Professor of Economics, that Mr Lawn should specialise in the study of economics. When Professor Condliffe was appointed research secretary of the Institute of Pacific Relations in Honolulu, and Professor Tocker was appointed in his place, Mr Lawn became lecturer. He twice acted as professor for periods of six months while Professor Tocker was attending tl e International Labour Conference in London in 1933. Mr Lawn in 1929 attended the biennial conference of the Institute of Pacific Relations at Kyoto. He has been on the committee of the Christchurch branch of the Economies Society of Australia and New Zealand since its formation, and he was formerly president and vice-president. He has delivered many lectures on economics and international affairs.