LABOUR DEMONSTRATION

Timaru Herald, Volume CLVIII, Issue 23269, 3 August 1945, Page 6

LABOUR DEMONSTRATION

PURCHASE OF BANK Government’s Policy Endorsed Protest Expressed By Businessmen IN. WELLINGTON, Aug. 2. The Labour demonstration which | resulted from the announcement that the Dominion Council of Coordinated Business Associations intended to send a mass deputation to Parliament to protest against the hanking legislation took place this morning. After the Trades Councils action in calling a mass demonstration the Dominion Council yesterdav cancelled its plan, deciding to send only a small deputation, including four spokesmen, stating that this was done in the public interest because of the dislocation of industry threatened by the Labour action. The Trades Council, however, announced that the cancelling of its plan was impossible at such a late stage. The original plan was for the busiI nessmen’s representatives to be heard first,, but Mr Speaker decided that it would be better to receive the Labour speakers first, which had the effect of releasing the marchers for an earlier return to work. The demonstration attracted a large crow'd of spectators to the neighbourhood of Parliament grounds well before the time fixed, and when some 10. people arrived in front of Parliament Buildings, it was a remarkable scene, enlivened by music byseveral bands. The gathering included a large number of workers brought by special train from the Hutt Valley. A small party of University students in fancydress provided light relief. While the proceedings were conducted in a most orderly manner, the event caused widespread interruption of business and industry for some hours. Opposition to Fascism

After the crowd had assembled before the steps of Parliament Buildings. they were addressed briefly by Mr F. P. Walsh and Mr Speaker, the Hon. F. W. Schramm. Then their principal speaker, the Hon. A, McLagan, M.L.C.. addressed Members of Parliament. He said that, Labour organisations yielded to nobody in their opposition to Fascism, and those present believed that they represented a considerable section of public opinion on the subject of the Bank of New Zealand. They had always opposed dictatorships, and dictatorships had. on the other hand, opposed organised Labour and democratic movements. Mussolini had achieved power in Italy with the help of the bankers, big businessmen and wealthy land owners, in other words, witli the assistance of co-ordinated Italian business interests. When Hitler came to power he was also actively assisted in the same way. These "dictators had smashed workers’ organisations, but big business had been fulsome in its praises of their organisations. Mr McLagan said an attempt had also been made in Britain to link Labour with National Socialism, but the British electors had refused to be sidetracked by a red herring of that sort, and had returned a Labour Government with a huge majority. Friends of the Fascists would meet with no better success in New Zealand because the people of New Zealand knew that those who were trying to raise the bogy of Fascism were themselves in the past the friends of Fascists. Criticism of Bank Referring, to the Bank of New Zealand Mr McLagan said that the banks had not saved the people during the slump. Had they set out to intensify the slump, their efforts could not have been more successful. Instead ot showing any financial genius on that occasion, these self-styled financial wizards slavishly followed the orders of big business.’ The financial wisdom was equivalent to providing an umbrella in fine weather, and taking it away when the rains came. Exfriends of Mussolini and Hitler had intended to come forw-ard in numbers to trv to intimidate the Government, but Labour was there in great numbers to urge the Government to go on with its democratic legislation. They believed in social and political progress, and in the taking over by the Government of institutions such as the Bank of NewZealand, they said to the Government: "Go on with your programme for the betterment of the people. We. the people, -will see that you have a fair field.”

Mr J. Roberts, President of the New Zealand Labour Party, spoke in similar terms, and Mr Walsh, as President of the Wellington Trades Council, moved: “That this meeting affirms its litter detestation of Nazism and Fascism, and expresses its determination to oppose them in whatever form they may take, including any attempt to overawe a democratically-elected Government by vested interests. “Realising that control of currency and credit should be one of the primary functions of every truly democratic Government, and that in the interests of the people this function must be carried on for the public good and not for private gain, this meeting wholeheartedly endorses the Government’s proposal to take over the Bank of New Zealand. “We affirm our support of the Government’s policy for the rehabilitation of our servicemen and women, and for providing full employment, a minimum family income, a rising standard of living and adequate finance for primary and secondary industry, and we believe that the taking over of the Bank of New Zealand will assist

to accomplish these objecti es.” The resolution was seconded by Mr J. O. Johnston. President of the Wellington Labour Representation Committee. and carried by acclamation. Before the meeting disnersed, Mr Schramm assured the gathering that I the views expressed would be fully | considered. Tie thanked the people for ; the orderly manner in which they had | conducted themselves. | Mr Walsh announced that all i workers were requested to resume | work at 1 o'clock. Not Overawed There were insistent calls for the ' Prime Minister, who was present in I spite of a heavy cold, and Mr Fraser | spoke briefly 'amidst applause. “I I assure you that the Government will , take into serious consideration your representations,” he said. “It is inspir- ' ing to see how seriously the Trade | Union movement in Wellington has i taken any effort to overawe the Gov- I eiTimewt by force of numbers. 1 | advised those organising the deputation j to desist from the beginning, because ; even if the demonstration were 10 times what they organised, the Government | would do’what it thought was right." ■ Tire demonstrators marched off in I orderly' fashion, and Ministers and | members entered the buildings to go | to a social hall where the deputation from business associations was i received. Businessmen's Protest The businessmen's deputation was by I arrangement, limited to 24 represen- I 1 stives. The Speaker, Hon. F. W. Schramm. I presided, and there was a moderate I attendance ot Ministers and members representative of both parties, includ- 1 ing Ute Prime Minister and the Leader of the Opposition. Since rhe Government, had put the Reserve Bank under control, farmers' bank deposits and war loan investments had been practically destroyed and their life insurances depreciated, said the president of the Upper Hutt Farmers’ Union and the Upper Hutt Citizens’ Association (Mr R. Buckleton). They had been promised that their bank deposits would be safe, but they had not been safe. Mr Buckleton said that the Government now proposed to take power to destroy the commercial banking system, arming itself with a most potent, weapon of destruction a banking system to be made the play-thing of politics. The I farmers were not prepared to accept | the assurances given to their recent, I deputation by Mr Nash that there

would be no alteration in the direction or management of the bank. The Mir.- I ister of Finance (the Hon. W. Nash i ’ was not In a position to commit the I present party in power, and he could not commit any future Government. ; The proposed taking over of the bank I was evidently designed fully to imple- ■ ment State control of all kinds of pro- j duction, distribution and exchange, .said j Mr Buckleton. It would determine the rights of the individual. Interference with the freedom of the individual j was against all the principles for which ; they had been fighting. They would : - not tolerate interference by the State I I with the personal freedom of the in- j l dividual. Time to ( all “Stop" The time had arrived when the | Government must call "stop" to the : Socialistic legislation appearing on l the Statute Book and affirm the prin- ■ ciples of free enterprise and freedom, said the president of the New ZeaI land Employers’ Federation (Mr J, I M. Fleming. He went on to say that . the deputation represented the opinion lof a very large section of the comI munity. New Zealanders would not I submit to the loss of their freedom . and the feeling throughout New Zea- . land against Socialism was very strong I and was growing apace. A wise and I just Government would note the rising I tide of public opinion and take heed. , The proposed Bank Bill had aroused a storm of feeling throughout New ; Zealand, said Mr C. H. Weston. K.C.. i who asked if it would not be wiser for ‘ the Government to devote all its energies for the time being to adminisl tration and to postpone the introducI tion of the Bill. Mr Weston said that ■ if the explanation of the Prime Minisl ter (Mr Fraser) of its effect was correct, no harm to the country could I result from its delay, and that if Mr l F. Langstone’s explanation was to be | accepted, then the Bill should be de- | layed. A Policy Matter Mi- Fraser said he expected to hear reasoned argument on the merits or demerits of taking over the bank, but he was disappointed with what had been said. There was not a word that would help the Government, and he doubted if one member of the deputaj tion had ever supported the Government. ; Two members interjected to say that they had done so. I Mr Fraser said then they mmt know that Labour had always stood for taking over the bank. The deputation had expressed the opinions of a certain section of the public, but they were not right in saying that there Was a terrible furore about the bank. There was much more interest in the supply of coal. When the bank was taken over the Government would have no more right than formerly to poke its nose into private concerns. That was not done now with the income tax department or any other State institutions. Mr T. C. A. Hislop: I’ve known that to happen. Mr Nash: We ought to have evidence of that. Mr Fraser said that if it had happened. the person concerned had broken the rules. The question of majorities had been raised, Mr Fraser added. He believed I in respecting the consciences of minor - I ities, but so long as the Government I was in office, it would take the responI sibility for its decisions, and if the people did not agree With them, the I Government could be voted out. If there was any attempt to frustrate illegally the decisions of Government, the law of the country would he enforced. If the will of Parliament was put into law, and the people objected they would have to put up with the consequences, and there would be consequences. No Government could tolerate insurrection, and no deputation should come to a Government which was democratically elected and talk in that fashion. No Government was infallible, and they might be making a mistake in this instance, although he did not think so. If the deputation thought a mistake was being made, they were entitled to come and tell the Government so. I Mr Fleming said the deputation had no desire to make any threats whatever. ! Labour members: But you made < them. Reasons at Proper Time ■ The Hon. W. Nash recapitulated i arguments already made for taking I over the Bank, and said he would put : forward all reasons at the proper time ’ and in the proper place. One of the ; main reasons was what had happened I after the last war. when interest rates ! had gone up to six, seven and eight I per cent.. His remarks were punctuated by a I number of interjections from Mr Hislop and other members of the deputation. I ‘ The Speaker thanked those present I for their attendance.