NATIONALISING BANKS

Press, Volume LXXXIII, Issue 25290, 16 September 1947, Page 7

NATIONALISING BANKS

AUSTRALIAN PLANS BEFORE CAUCUS

ROMAN CATHOLICS’ t POSITION (Rec. 8 p.m.) SYDNBY. Sept 18. Federal Ministers at Canberra predict almost unanimous support by the Labour caucus to-morrow of the Government’s plans to nationalise the trading banks. The Roman Catholic members of the Labour Party are reported to be disposed to settle the matter on political rather than religious grounds. According to the Canberra correspondent of the “Daily Telegraph,’* the Government Plans to have a comprehensive socialistic programme operating fully by the end of next year. He reports that the Government is working out details of a programme which includes the nationalisation of private banks and insurance companies, contributory insurance to provide retiring pensions, the abolition of the means test as a basis for the payment of pensions, and national medical and health services for all Australians. Under Section 51 of the Commonwealth Constitution, the Federal Parliament has power “to make laws with respect to insurance other than State insurance." Party members told the correspondent that they thought the Government would not make a formal decision regarding insurance “for a .few more months." “Roman Catholic Attitude” Another report from Canberra says that the majority of the Roman Catholic Cabinet Ministers, of whom there are nine in the Federal Cabinet, are anxiously awaiting an authoritative statement on the nationalisation of the banks. They are greatly concerned by the introduction of the so-caDed “Roman Catholic attitude’’ by Archdeacon T. J. O’Donnell, of Hobart, and by the “Catholic Weekly.” It is feared that if the Church attitude is not clarified before caucus meets to-morrow, a split may develop in the Labour movement. The Ministers are awaiting a statement which is expected to be issued with the authority of Cardinal Gilroy, who is now in Canada. The Archbishop of Adelaide (Dr. Zeovich) has declared that * the nationalisation of the trading banks •is not a direct contradiction of any social principle of the Church. “The Australian Government’s plans for socialisation or nationalisation of the'banks are based on opposition to the retention of the institution of private property to the maximum extent commensurate with the common good. Romar Catholics could notbe associated with the Government of the Labour Party,” said a leading article in the “Catholic Weekly.” The newspaper defined Socialism as ‘a system that is opposed in principle to the retention of tne principle of private property in the economic life Of the Community.’’ It emphasised that no Roman Catholic, whether politician or trade leader, could support Socialism m this gense It said that Roman Catholics could not therefore Support the Government’s nationalisation policy.