FINANCE METHODS

Waikato Times, Volume 125, Issue 20887, 19 August 1939, Page 5

FINANCE METHODS

BORROWING IN THE PAST OPPOSITION MEMBER'S DEFENCE MR COMBS ON PUBLIC SERVICE (By Telegraph.—Press Association) WELLINGTON, Friday. Continuing the financial debate in the House of Representatives today, the Hon. J. G. Cobbe (Opposition— Manawatu), said there had been a lot of talk as to old and out-of-date, methods of finance. It was unfortunate that Government members had

not explained what modern finance was. One member had said .there would be no safety until the banking system was in the hands of the people. It was partly in the hands of the people now, namely, in hands of the Reserve Bank, and he did not. think the people were any too happy about it. Money borrowed by New Zealand in tho past had been borrowed far two purposes, said Mr Cobbe, namely, to protect New Zealand and for the development of the country. If money had not been borrowed the country would not be the safe place it was today for the people who were talking about usurers, death adders and financial gangsters. The Bank of England had been held up to ridicule, but Britain's influence in the world today was largely due to the money powa* of its financial interests. Public Service Tests Mr H. E. Combs (Govt.—Wellington Suburbs) discussed the agitation about the Public Service tests and gave an account of conditions in the Pest and Telegraph Department under the Public Service Commissioner. Replying to Mr W. A. Bodkin's (Opposition—Central Otago) allegations that some of the officers of that department were underpaid, Mr Combs said that, in Joi S under the Public Service Commissioner's control there had been men with ten years’ service on incomes of 50s a week. When they carno under Ministerial control their position improved, but it slipped back under the last Government, until in 1935 there were groups of men on scales of 31s a week and 47s a week. These meji were now getting £4 a week. Mr Combs criticised Public Service Commissioner control to a certain extent, stating that in the making of appointments the Public Service Commissioner could advance men who were not considered most suitable by the heads of the departments concerned. He defended the proposed efficiency tests, however, on the grounds that the Public Service Commissioner could not say who should be advanced without the information secured from those tests. Departmental heads, however, should have authority to promote. The- House adjourned at 12.55 p.m. until 2.30 p.m.