NATIONALISATION EFFECTS
"Tnuling bank policv in Australin is cont rolled by the central bank undei the 1045 legislatiun, whieh gave Ihe Government more than enough power to support and control Anstraiian developinent. No further control wa° necossary t'or econoniic reasons, anu nationalisation will actually add to the uncertainty factors in the eeononiy, said the president of the Bank of New youth Wales (Sir Frederick Tout) at the annual nieeting on Friday. "Past and present experienee has indieated that the errors of free enterprise, whicli are visited usually only on the iieads of a i\;W people, ao; jimrelv replaeed by public errors irom whieh the whole econoiny suu'eis. Hence the ioss of freedom whieh the formation of public nioiiopoly and its eoncoinitant regulalions entail, so far from being'- eoiiipensated by added eeomnnic security, is actually accom- ' panied by lower standards oi Fivmg, j periodieal shortages, the survival o. ' black markets, aad the graduai weakening of standards of hunian honesty and integrity. ■'
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19471202.2.5.3
Bibliographic details
Chronicle (Levin), 2 December 1947, Page 3
Word Count
160NATIONALISATION EFFECTS Chronicle (Levin), 2 December 1947, Page 3
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