BANKING SYSTEM'

Timaru Herald, Volume CXLVII, Issue 21508, 22 November 1939, Page 11

BANKING SYSTEM'

MR LEE DESIRES CONTROL BY PEOPLE By Telegraph—Press Association PAHIATUA, November 21. “I believe that unless the Government takes over at least one trading bank before the next election it will not have carried out its pledges at the last election," declared Mr J. A. Lee, M.P., in and address last night on monetary reform. Mr Lee said that true democracy was impossible till the people controlled the banking system. Speaking of the “crushing burden of international and internal debt,” Mr Lee said that New Zealand was deep in debt because private enterprise controlled money. “I say that there is no greater lunacy than financial orthodoxy,” he added. Government marketing of produce after the war was needed because there might be a fall in prices, and a steady return would be welcome. Questioned concerning suppressing the Opposition during the war, Mr Lee said that he was not in favour of suppressing anybody, save the man disavowing the law and preaching insurrection. “We want the fullest unfettered right for controversy," he said.