NO POLITICS
(Press Assn.-
— MR. FORBES' PLEDGE reserve bank free of political control reply to wanganui
-By Telegraph — Copyright).
Wanganui, Tuesday. In reply to a telegram sent hy the Wanganui Chamher of Commerce to the Hon. G. W. Forbes, stressing- the neeessity that the Reserve Bank he abso'lutely free from political control, the Prime Minister has wired stating that the assumption that political control is involved is totally incorrect. "Under the present legislation the Government of the Bank of New ZeaGovernment appoints four out of th'e six directors >of the Bank of New Zealand, and I would like to ask your chamher if it considers that that institution is under political control. The forrn of directorate for the New Zealand Reserve Bank is in line with that .adopted in other countries. The Chamher has replied that the Minister of Finance, when moving th'e second reading of the hill, made it clear that the function of the bank would he to give effect to the Government's currency policy. There was no such liability on the Bank of New Zealand, therefore the case Was not parallel.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19331115.2.37
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Rotorua Morning Post, Volume 3, Issue 689, 15 November 1933, Page 5
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184NO POLITICS Rotorua Morning Post, Volume 3, Issue 689, 15 November 1933, Page 5
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