TRADING BANKS
NO STRANGULATION. PRIME MINISTER'S COMMENT. WELLINGTON, Feb. 1. "Most, hanks appear to come out o2 the 'strangulation' process pretty healthy," the Prime Minister (the Rt. Hon. M. J. Savage) said last evening, when commenting on the statement hy Sir John Davidson, speaking at the annual meeting of the Union Bank of Australia in London, that the trading banks of New Zealand were being strangled. "One has only Io look at the dividends paid by the various banks," he said, "to find there is not much to support the complaint by Sir John Davidson about strangulation.” Mr. Savage said that all the Gov-
ernment wanted trom the banks wa: service that would permit of th: development of New Zealand to th< full and make it possible for the pro ducers of the country in ail lines t< have the benefit of their effort. Sc long as the country got that servici there was no need for any Govern ment to share Ihe worries of the banker.
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Wanganui Chronicle, Volume 83, Issue 27, 3 February 1939, Page 5
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167TRADING BANKS Wanganui Chronicle, Volume 83, Issue 27, 3 February 1939, Page 5
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