Nationalization of Banks
NATIONALIZATION has occupied of recent years a prominent place in- the Labour Party's programme, and now that we have a Labour Government in power there is naturally some speculation as to whether an attempt will be made to translate theory into practice.
Nationalization of our- banks has been a subject of academic discussion for some time, and its advocates have painted glowing pictures of the ease with which financial assistance could be accorded to the needy, trade en- couraged, and the country generally made prosperous. It would be unwise on the part of those who are opposed to the policy to ignore the seriousness with which these views are being pressed : they merit careful -Considera- tion, since at the present time trade is backward and there is a tendency to try any remedy as a substitute for a forward policy involving courage and initiative on the part of employers and hard work on the part of everyone. Moreover, there are economists of repute, as well as business men, who attribute to our monetary policy much of the depression from which we are suffering, and one cannot but feel that to some at least a reform of our banking system and monetary policy are allied questions.
Previous page
