LABOUR᾽S GREATEST THREAT

Hawke's Bay Herald-Tribune, Issue 75, 15 April 1937, Page 5

LABOUR᾽S GREATEST THREAT

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Cottpkts Coanol oi Finance DEFENCE ADVISED

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AUCKLAND, L'aist Night. "ATb Wb gbxng - to have Our spbrity afld our financial life dominated by pbbplb Who Sfty that they Won't have anybody nnless they sflbsbribe %o their ideals?,, asked Mr J. Hargbst, M.B. 'fbr Awarua, in addressing a lunchebn mbeting to-day. The greatest thrb'at frbm fhe Labour Goyernment, he Said, Was febmplete control bf finance. Bflnkers ifl thb past had been tbo relnctflnt to dfefefld themselves pttbliely, afld hb uppealed to all flbctions of the business World nbt tb let the Government dominate finance and thb bankifig system. Th© fixbbtiflg, Which was atteflded by about 100 business men, was convehed by the National Party. Mr Hargest said that the Labour Government was attemptiflg to 'd'omiflatb bVbry fcrm bf indflstry, afld "tb restrict liberty. It had taken over the Reserve Bank, eommandeered f armers 7 produce, strangled tiflnsport in thb iflfferestS bf the jStatfl railways and, according to a statement made by Mr A. F. Moncur, M.P., intbflded to 4 have the banks where they, (thb GbVbfnlflent) Wanted thfem. The Gbvferflmeflt hal already piaced three Sb'CialiStS bfl thb directorate of the Bflnk bf Nbw Zealand, wMch measxt; that three of the seven members did what thb GbVbrnment wanted them to db. The speaker said he was coflfident that the National -Party, With the assistflnce of the people, wonld -f ormulate a policy that would harmonise the interests 'of ali branches • of the community. Everyone/ in hid heart, was a cflpitalist, as eapitalism meant the rxght to earn, save and inVest money, to entc" commerce, and to buy and sell ii competition Wx'th neighbours. There Wa,® nOthifl'g wfong with a system that permitted Lord Nnffield to start at the bbttom afld rise to his present position. Mr Hatgest eoneludecl by asking youflg mefl of courage to come forward as candidates at the next general eleetion.