THE BANK OF NEW ZEALAND

Gisborne Times, Volume XXVI, Issue 2235, 6 July 1908, Page 2

THE BANK OF NEW ZEALAND

INCREASING THE STATE’S INTEREST. ; ; EXPERT COAIAHTTEE APPOIN-' TED. [Special to “Times.”] AVELLINGTON, July 5. Another step in tho direction of revolutionary socialism is being taken by a number of prominent Government supporters. The idea is to give the State a still greater interest in tho Bank of Now Zealand. The mombers so far associated with tho movement aro tho Hons. T. Kelly, AJcG'ardlo, Duncan and J. T. Paul, and lAle'srs Ell, Davey, Laurenson, Gray, E.G. Allen, Barclay, Hornsby, Poland, Major, Hall,. -Flatman, Arnold, Stallworthy, Hanan, Remington. McPherson, and Buddo. It is stated that in addition to tlieso thoro are twelve other menibers of the Legislature who are in accord with tho proposal. (Messrs Ell, Barclay, Flatman, Alajor, Kelly, and AlcCardlo have boon appointed a committee which will formulate some resolutions regarding banking and currency. It i-s anticipated that a committee composed of such well-known experts in tho . intricate questions 'of currency, banking, and high finance will be able to evolve some valuable and illuminating proposals or suggestions, which will, in due course, be submitted to the Prime Minister for the consideration of the Cabinet. The committee is to report by AVodncsday next. Not counting to-day, which is Sunday, they have thus two clear days to devoto to the discussion of the intricate questions of banking and currency. It is anticipated that the result of their deliberations may bo of value, not only to Sir Joseph AVard 'ftnd the menibers of his Cabinet, but aleo to financial experts in .London and tho principal centres of tlie Old "World, who are sadly in want of light and learning in these matters. Of course, there are two sides to every question. Air. Alassey, for instance, says that nothing will come of, this movement. 0:i the contrary, be thinks the tim n is not far distant when the .-nareliolde’s will be given greater representation' on the Board -of Directors tlvn they have at present. It. is, be says,-only fair that they should have it, seeing that their interests have incifased considerably, while the respons” "ty of the State is very much lesG K" it was. some years ago.