NOT UNDERSTOOD

Rotorua Morning Post, Volume 2, Issue 559, 16 June 1933, Page 5

NOT UNDERSTOOD

(Press Assn.-

UN JU STIFIED PUBLIC ILLFEELING AGAINST BANKS A RECORD OF SERVICE

— By Telegraph — Copyright) .

Wellington, Thursday. The opinion that the banks should take action at once in the interests of the commun-ity to combat the prevalent ill-feeling against them was expressed by fihe presidenit of the New Zealand Bank Officers' Guild, Mr. V. C. S. Edwards, in proposing the toast of "The Banks" at th'e annual smoke concert of the guild. "In view of the igreat services performed by the bariks, it seems strango," ^aid' Mr. Edwards, "that there is so much ill-feeling against them in practically every section of •the comanunity. A desire for the soeialisation of credit is rapidly gaining ground, and if the banks are rlesirous •of combatting insidious propagandsi against the present, system of private banks it is desirable that they at once take action. It is necessaiy that the banks should justify themselves in the rninds of the public. As it is, their detractors and c'alumniators have a free field. "A rioticeable feature of these , troublesome times," added the speaker, "is the way in which the trading banks of the Empir-e have' been ahle to stand up> to adverse conditions. We have not heard of one failure an-ong British banks, and this is attributable no doubt, to= the sourid conservative lines on which British banks operate. Our own banks operate on the same sound lines, arid the community owes much to the higffier executive officers of our banks.. "It is not hard to visualise the many and cotoplex problems that these gentlemen have had to face and solve during the past few years," concluded Mr. Edwards. "They have had to solve questions, not so much of bariking as of natiorial importanco, and in solving these prob.lems thq banks -in lpany cases have ftrrived. at decisions very muqb tp their qwn disadvantage, beriause they held th-a,t national consideratipns were of paramount importance,"