NO NEED TO RUSH

Evening Post, Volume CXVI, Issue 102, 27 October 1933, Page 8

NO NEED TO RUSH

; INQUIRY DEMANDED

ASSOCIATED CHAMBERS'

VIEW

! (By Telegraph.—Press Association.) WANGANUI, This Day.' The conference of the Associated Chambers of Commerce passed the following resolution:— "That in the matter of the Reserve Bank Bill, this conference is of the opinion that there is no immediate need to rush through this most important legislation. That is essential. There should be a full and exhaustive inquiry before a duly-constituted Parliamentary Committee, before which evidence would be taken, and a report should be made before committing the country to a most important departure from established banking practice. The conference further emphasises the point laid down by Sir Otto Niemeyer that a Central Beserve Bank should be entirely free from political influence or control, dirctly or indirectly. It is necessary, and should be obvious to all, that there is danger of political interference, and unless adequate safeguards , are proTided the bank might easily become a real menace to the financial stability of the Dominion." The following remit was also car-

ried:—"That freo and unrestricted entry of our exports into Great Britain is so vital to New Zealand that negotiations, should be initiated to ascertain on what terms this right can be secured. We should be prepared to make concessions to achieve this -end."