CENTRAL BANK OPPOSED.

Waikato Times, Volume 114, Issue 19066, 3 October 1933, Page 4

CENTRAL BANK OPPOSED.

At a well-attended meeting of Hamilton citizens 'last evening a resolution was carried expressing unequivocal opposition to the proposed Central Reserve Bank Bill. While it is clear that the Government is in no way bound to pay attention to a resolution of this nature it is equally certain that to ignore this protest, together with others which have been voiced throughout the country, will place it in the position of having flouted the requests of the electors for further consideration of the proposed step.

The only evidence hitherto put forward in support of the proposed Central Bank has been the pamphlet by the Minister of Finance, which fell woefully short of its objective. Since the publication of the pamphlet, criticism.of the proposal has been widespread and opposition has also been expressed with such frequency and emphasis that the Government, if it wishes to retain the confidence of the electors, cannot afford to proceed with the measure until a full and searching inquiry has been made. The criticisms and objections which have already been made are not merely the outward evidences of factional discontent. They represent a feeling which is nation-wide and which is confined to no particular class or section of the community. The Government has already received sufficient indication of popular feeling to remove any doubt of the advisability of instituting immediately not a Royal Commission, but a Parliamentary Committee which shall make a thorough examination of the advantages and disadvantages of a Central Bank before making its report.