Financial Statement Of Economy Of N.Z. Under Consideration

Wanganui Chronicle, 4 August 1948, Page 4

Financial Statement Of Economy Of N.Z. Under Consideration

The Wanganui Electors Association has approached the Minister of Finance (Mr. Nash) urging the establishment of a Dominion Credit Authority. Mr. Nash has replied stating that a financial statement of the economy of the Dominion has been under consideration tor some time and he hopes that at a later date it will be possible io publish it. The Electors Association’s letter to Mr- Nash was as follows: “You say that it does not appear desirable at the moment to establish a Dominion Credit Authority since the Reserve Bank carries out that function, but we f would point out that it Joes not provide for Parliament and people an annual balance-sheet showing the relationship between the flow of goods and services available for consumption, on the one hand, and the nett incomes of the people, on the other hand. That is all important, and the production of such a balancesheet should not present any great difficulty to the officers of the bank. In this connection, we would be very grateful, if. in uue course, you would let us have vour comments on the draft balance on those lines which we recently submitted lo you.” Mr. Nash’s reply reads “A financial statement of the economy of the Dominion has been under consideration for some time and I hope that at i a later date it will ?e possible to pub- 1 fish same.”