N.Z. FINANCIAL POLICY
Mr Walsh Replies To Mr Watts (New Zealand Press Association) WELLINGTON, May 2. The history of the Government disclosed that its policy of using Reserve Bank credit for its own needs and those of the producers’ marketing organisations was almost identical with the policy now advocated by the Social Credit party, said the president of the Federation of Labour (Mr F. P. Walsh) today. “This is the policy which reduces the value of our money and automatically cuts wages, pensions, and savings,” said Mr Walsh, who was replying to the Minister of Finance <Mr J. T. Watts). . Had the. Minister read the submissions by himself (Mr Walsh) to the Monetary Commission he Would have found the answer to many points in his statement, said Mr Walsh. The public would be greatly interested in an explanation from the Minister of the Government’s pse of Reserve Bank credit when it had made a solemn pledge to the electors to refrain from using this credit, said Mr Walsh.
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Press, Volume XCV, Issue 28267, 3 May 1957, Page 15
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168N.Z. FINANCIAL POLICY Press, Volume XCV, Issue 28267, 3 May 1957, Page 15
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