CONTROL OF FINANCE

Taranaki Central Press, Volume IV, Issue 408, 15 April 1937, Page 5

CONTROL OF FINANCE

LABOUR GOVERNMENT’S THREAT. Mr. J. Hargest at Auckland. Auckland, April 15. “Are wia going 'to have our prosperity and our financial life dominar led by people who say Ithat; they won’t have anybody unless they subscribe to their ideals?” asked Mr. J. Hargest, M. P. for Awarua, in addressing a luncheon meeting in Auckland. The greatest, (threat from sthe-Labour Government, he said, was' complelte control of finance. Bankers in the I past had been too reluctant to defend themselves publicly, and he appealed to all sections of |the business world not to let P-ilte Government domin'at.e finance and tihe banking system. The meeting, which was attended by abouit 100 business' men, was convened by the National Party. Mr. Hargest said thait the Labour Government was attempting to dominate every form of industry, and to restrict liberty. lit Wad taken over the Reserve Bank, commandeered farmers’ produce, strangled transport in the interests of 'the fj'.ate railways and, according to a statement made by Mr. A. F. Moncur, MIP., intitndeid to "have the banks where they othe Government) wanted them." The Government had already placed three socialists on the directors’e of the Bank of New Zealand, which meant that three of the seven members did What the Government wanted them to do. The speaker said he was confident that the National Party, with the assistance of iilie people, would formulate a policy that would harmonise.the interests of all branches of (the community. Everyone, in his heart, was a capitalist, as capitalist meant the right ko earn, save and invest money, to enter commerce, and to buy and sell in competition with Thttre> wins nothing Wrong with a system that permitted Lord Nufii' Id to staitt at (the bo’k-oin and. rise |to his present position. Mr. Hargest concluded by asking young men of courage to come forward as candidates at Ithe next general election.