Reserve Bank of New Zealand, 1935-1951

Component identifier:

File 339

Content Summary:

Correspondence between Bank of England and Leslie Lefeaux, Reserve Bank of New Zealand, Wellington; Bank of England memoranda on position of the Reserve Bank and New Zealand financial policy.

Subjects include: Agricultural Mortgage Corporation Stocks; visit to London of Forbes and Coates; contact between the two Banks; problem of distance; prejudice against Reserve Bank 'recommended by 'expert' from London' as established by previous government; Lefeaux's relations with New Zealand government; changes to be made by new government; public debt; Lord Barnby; proposed visit to New Zealand by Kershaw (1936), 'how unfortunate is the present time for anything savouring of an official visit'; visit to London by James Begg (includes correspondence); Reserve Bank of New Zealand amendment bill making bank a state bank under government control; other Labour Government policies; influence of Social Credit movement; New Zealand trade with Germany; revisions that the Bank of England considers should be made in statutes of Reserve Bank of New Zealand (1938); New Zealand financial conditions, 1938, due to over-importing; exchange control; termination of Lefeaux's appointment (1940); appointment of WFL Ward as Governor; Nash's opinion of Lefeaux.

Includes: (a) Page from Cobbold's letter to Holland (see 336) re Reserve Bank; (b) 11 March 1951. Sidney Holland (Prime Minister, New Zealand) to Cobbold thanking him for two 'timely' pieces of advice; the Board of Reserve Bank is to be strengthened; his burden of office. (380p.)

Processing information:

M2943

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