RESERVE BANK.
REPLY TO CRITICISM. APPOINTMENT OF GOVERNOR. (By Telegraph.—Press Association.) OAMARIJ, Friday. Criticism of the action of the Government. in appointing Mr Leslie Lefeaux, a meinlier of tlie staff of tlie Bank of England, as governor of the New Zealand Reserve Rank, was replied to last, evening by the Prime Minister. Re said (hero was no one available in New Zealand with the necessary expert knowledge on central banking. lie predicted that the country would soon realise the wisdom of the Government in selecting a man of wide experience and with up-to-date knowledge of international finance. Commenting on the transfer of gold from the trading banks to the Reserve Rank at a book value of i’.'t 17s Hid. Mr Forbes said there had been a good deal of criticism of this action, but he had noticed that President Roosevelt, had taken gold from the trading banks and had decided to pay for it at a price to hi' lived. "We have been charged with being robbers and everything else," the Prime Minister added, "but that policy has been adopted in thirteen other countries and supported by the leading llnancial authorities of Rrilaiit."
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Bibliographic details
Waikato Times, Volume 115, Issue 19159, 20 January 1934, Page 3
Word Count
193RESERVE BANK. Waikato Times, Volume 115, Issue 19159, 20 January 1934, Page 3
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