BANKING SYSTEM

Hokitika Guardian, 15 June 1933, Page 5

BANKING SYSTEM

ACTION URGED TO COMBAT ILL-FEELING. (Per Press Association—Copyright). WELLINGTON, June 15. The opinion timt the banks should take action at once in the interests ox the community to combat the prevalent ili-feeiing against them, was expressed by tlie president of; the New Zealand, Lank Onicers’ Guild (Mr Edwards), in' proposing the toast or “The Lanks," at the annual smoke concert.

“In view of the great sen ice performed by the banks, it seems strange/' said Mr Edwards, “that is so much ill feeling against them in practically every section of the community Tlie desire for the socialisation of credit is rapidly gaming ground, and if banks are desirous of combating insidious propaganda against the present system ox private banks, it is desirable' that they at once take action. it is necessary, that the banks should justify themselves in the minds of the public. As it is ; their detractors and caluminatoi’s have a free field.” “A noticable feature of these troublesome times is the way in which the trading banks of the Empire have been able to stand up to adverse conditions. We have nob heard of one failure among the British banks, attributable, no doubt, to the sound conservative lings on which the British banks operated. Our own banks operate oh the same sound lines and the community owes much to the higher executive officers or our banks. If is not bal'd to visualise the many and complex problems that these gentlemen have had to face and solve during the past few years,” concluded Mr Edwards. “The question is not so much of banking, as that of the national importance, and in solving these probleihs the banks, in many cases, arrive at decisions very much to their own disadvantage, because, they hold national considerations which are of paramount importance.” / . ■ >