State Control Of Banking
Sir,—Both the National and Labour Parties have condemned Social Credit policy at one time or another but since its inception as a political organisation the Social Credit Political League has advocated monetary reform and Government control of bank advances through the Reserve Bank Now Mr Walsh wants State control of banking. Did not the Labour Party have ample opportunity to implement this during its terms of office? Mr Holyoake, during his election campaign, tried to catch Social Credit votes by promising monetary reform; so it now appears that both the Labour and National Parties are endeavouring to adopt Social Credit policy, which at one time they called funny money. It appears that Mr Walsh has now found out how funny our present monetary system is.—Yours, etc., WAKE UP. NEW ZEALAND. May 2, 1961.
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Press, Volume C, Issue 29504, 4 May 1961, Page 3
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137State Control Of Banking Press, Volume C, Issue 29504, 4 May 1961, Page 3
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