CENTRAL BANK
("Post" Special Conmiissioner.)
GOVT. DECISION EMPOWERING LEGISLATION TO BE SUBMITTED THIS SESSION THE NIEMEYER REPORT
Wellington, Saturday. Legislation will be introduced during the present session of Parliament to provide for th'3 establish'ment of a eentral reserve bank in New Zealand. The Prime Minister (Rt. Hon. G. W. Forbes) said this afternoon, that with modifications suggested as a result both of inquiries made by tbe Rt. Hon. J. G. Caates at Ottawa and by the Minister of Finance (Hon. Downie Stewart), in England, legislation would be introduced giving effect to the general recommendations of Sir Otto Niemeyer, whose report on the subject has been reeeiving the consideratipn of the Government for some time. The main recommendation made by Sir Otto Niemeyer in his special report on banking and currency in New Zealand, was that a eentral reserve bank should be established in New Zealand with the sole right of note issue in the Dominion, and sole control of exehange. Such a bank would also keep the Government accounts. Shares for the eentral reserve bank will be open to public subscription.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19320926.2.46
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Rotorua Morning Post, Volume 2, Issue 337, 26 September 1932, Page 5
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181CENTRAL BANK Rotorua Morning Post, Volume 2, Issue 337, 26 September 1932, Page 5
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