DOMINION'S NEEDS
(Rpeoinl Correspondent.)
BANK CIIAIRMAN'S VIEWS
Received Sunday, 7 p.m. LOXDO'X, August 24. New Zealand emorged from the war in a favourable fmancial position, stated Mir Sydtiev Parkes, chairman of tlie Xational Bank of Xew Zealand, in his annual report. Inflationary tendencies were held in check by a stabilisation plan arul by a policy of price control supported by Government subsidies. The present increase in the amount of subsidies is eausing tlie authorities much eoncern but at the moment held the view that it was bet ter for the community to bear the costs of subsidies tluin sufl'er the effects of inereased prices for essential com moditieS. Hotrever, sooner or later this situation would have to end or at least be modilied. Xeiv Zealand would theu have to face tlie fact that the abandonment of subsidies will lead to higher prices and to denninds foi higher wages. Tlie report also draws attention to the increasbd voluine of tnoney in cir culation aitd points out tliat tlie value of nOtes held by tlie public and bal ances in the Iieserve and trgding banks, had inciTased thfeefold. This largfe increksa prbseiitsf dan^ers only avoidable . by control and contlnued saving.
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Bibliographic details
Chronicle (Levin), 26 August 1946, Page 5
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198DOMINION'S NEEDS Chronicle (Levin), 26 August 1946, Page 5
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