SOUND FINANCE

Hokitika Guardian, 25 June 1932, Page 3

SOUND FINANCE

SUGGESTIONS' BY DEPUTATION. STATEMENT BY HON. COBBE. WELLINGTON, Juno 23. “In view of the many wild financial theories that are ventilated to-day, it is increasingly important that hank officers should thoroughly understand the principles of sound finance, so thal they may readily recognise the hollowness of the wild vapourings of those who argue that wealth can he created hy the use of the printing press,” said the Minister of Justice (tlie lion. J. G. Cohbe) at the annual smoke concert of the New Zealand Bank Officuris’ Guild. “When I look round and see the wealth which those present own and control, L feel like a swagger who has dropped into a gold mine. “A deputation waited upon me recently and told me in an emphatic manner what was the duty of the Government at tlie present ‘time,” continued Mr Cohbe “1 may say that the scheme they advocated would cost several miHionts. When the business ha,| been explained to me at length, T asked a (piestioii—whore would (he money come from? Tile chief speaker at once said: ‘The hanks have fortythree millions of money. Take that

and give them Government bonds.’ So yon see that all the financial expects are not in the pervic,.- of the banks ’ ’