BANKS WARNED.

Auckland Star, Volume LXIII, Issue 263, 5 November 1932, Page 9

BANKS WARNED.

KEEP OUT OF POLITICS.

Propaganda Against Ottawa

In Australia.

NATIONALISATION THREAT.

(United P.A.—Electric Telegraph—Copyright)

(Received 10.30, a.m.) CANBERRA, this day. The Postmaster-General, Mr. A. Parkhill, in the House of Representatives, during the debate on the Ottawa agreements, warned the private banks that if they did not refrain from issuing political propaganda they might be thrust into the "whirling eddies of the maelstrom of politics" from which would emerge only the one issue, the nationalisation of banking.

During the debate Mr. Beasley ,'Langite) quoted from and praised a circular issued by the Bank of New South Wales criticising the Ottawa agreement.

The Assistant Federal Treasurer, Senator Massy Greene, who ia acting chairman of the Loan Council, issued a statement in which he criticised the methods of the Premier of New South Wales, Mr. B. S. Stevens, at the last Premiers' Conference. He alleged that Mr. Stevens was trying to push the interests of the trading bank to the detriment of the national institution, and that other Premiers had every reason to resist such action.

The "Daily Telegraph" says that the statement has the endorsement of other Cabinet Ministers. Mr. Stevens stated that his proposal to the conference was better than the Commonwealth Bank 6cheme which had been rejected.

Replying to Mr. Greene, Mr. Stevens said: "Surely no one will quarrel with the trading banks, which carry the bulk of the business activities of this country, when they offered to subscribe a large proportion of the loan at 10/ per cent less than the rate recommended by the Commonwealth Bank and the Commonwealth Government."

NO DEPORTATION.

NOTHING AGAINST SWINDELL,

(Rocclved 10.30 a.m.) CANBERRA, this day. The Attorney-General, Mr. J. G. Latham, stated in the House of Representatives that inquiries had been made regarding "Judge" Swindell, who introduced fruit machines and tin hare racing into New South Wales and took a prominent part in the forming of racing companies and whose deportation was reported to be desired. No evidence had been found that he had been convicted in Australia of any offence. Under the existing laws of the Commonwealth there was no provision under which he could bo deported.

TAX ON READING.

AUSTRALIAN PRIMAGE DUTY.

LONDON, November 4.

Correspondence between Lord Riddell, chairman of the Newspaper Proprietors' Association, and Mr. S. M. Bruce, Australian Minister in London, has been published regarding the 10 per cent primage levied on newspapers, periodicals, magazines and books entering Australia.

Lord Riddell pointed out that the effect had been seriously to reduce the importation of Home publications. He said it was greatly to the advantage of both countries to have a free interchange of Empire literature.

Mr. Bruce stated that the subject was receiving serious attention. Only the financial position had compelled the .Federal Government reluctantly to maintain the primage duty.