EVERYBODY AFFECTED
RESULTS OF BANK LEGISLATION.
Those who have no bank account (Bank of New Zealand or any other bank) may say the Bank.of New Zealand purchase and subsequent control of all banks cannot affect them. Furthermore, they have P.O. Savings Bank accounts, and have not suffered thereby, though their money is in a State institution. ' "
It should be remembered that the firms which employ those people all have trading bank accounts. Under State control of banking, private accounts CAN be looked into. Mr. Nash's assurances that they will still be secret, are worthless, as he has already shown his assurances cannot be relied on.
Political discrimination with overdrafts and accommodation can result in damage to firms, with loss of jobs for those who today say they are* not directly concerned. Even if Mr. Nash's declaration could be relied upon, no Minister can bind his successor with pledges. Moreover, State control of banking will give the Socialists such a stranglehold on finance and industry that they will be in a position to impose further measures of regulation and direction on all members of the public—including those who todayMmagine that they are not affected. State control has gone far eno\igh in New Zealand, and furthei extensions should,be strongly resisted. ■ ' ' ' . ..
—Inserted by the Associated Chambers of .Commerce of-. New Zealand.—P.B.A* ' - :■
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19450726.2.89
Bibliographic details
Evening Post, Volume CXL, Issue 22, 26 July 1945, Page 8
Word Count
218EVERYBODY AFFECTED Evening Post, Volume CXL, Issue 22, 26 July 1945, Page 8
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