BRITISH BANKERS VIEWS

Bay of Plenty Beacon, Volume 7, Issue 54, 7 March 1944, Page 4

BRITISH BANKERS VIEWS

Sir,, —Views on post-war financial' problems arc expressed, in state-, ments issued by the chairmen of two of the "Big Five" Banks. We have a lot of bunk from time to time from the representatives of the banking institutions, but it may be that there is a light dawning on some of them, that it would be far healthier for the nation to which they should belong, to act as servants instead of masters. We have the chairman of the Westminster Bank speaking in a much milder form than hitherto. Mr R. E. Beckett says: 'American status as a creditor nation implied, responsibility for securing trade equilibrium, and not remaining passive as hitherto allowing the free entry of gold for payment of goods. America should allow the easy entry of foreign, goods.' Goods and services were a better exchange for exports than gold, which passed, to sterility. This is a wonderful admission coming from sucli high authority. Again we have Mr Stanley .Christopherson, chairman of the Midland Bank,, saying that economic progress of Britain was dependent on the enterprise and resourcefulness of its small business imdertakiing! This is also a wonderful admission from high authority. We have only to look around, us here in New Zealand to see the. small business mail disap-' pearing from the cities to make room for "big business." Why aret these things happening? Mr Stanley Christopherson gives the answer, that these small businessmen were too often stultified and mis-directed through the inadequacy of financial resources! —or as 1 would put it fin-f ancial credit. Yours, etc., W. BRADSHAW.