STATE ADVANCES

Hawke's Bay Herald-Tribune, Issue 89, 1 May 1937, Page 18

STATE ADVANCES

Clalises Criticised by Mr. Cohbe *4Another milestone on the soeialistie road" was how the Hon. J, G, Cobbe, M.P., described the State Advances; Corporation Act, in the course of Ma address to the electors at Feilding last evening. He went on to criticise the j machinery clauses of that Act which provided that the Mihister of Finance should have the right to attend every meeting of the board and further that the board should have regard to any representations made by the Minister. In addition the Minister had the right i to be informed of the business being: transacted by the board. The speaker wanted to know why the Minister should require to know all the business of the board. The legislation had giventhe Minister inquisitorial and antoeratic powers which he considefed waa highly improper. Mr. Cobbe did notl think that any Minister of the Crown should be given information as to the names of applicants for loans. The powers accOrded him, he sugggsted, offered opportunities for the exercise of influences which would not be. in the best interests of the activities of the; board. "It has always been," he said, 44re-f garded as a matter of paramount im*" portance that all State departmentshaving to do with the lending of money should be entirely free from even the snspicion of political influence," j