SCULLIN TACKLED

Evening Post, Volume CXI, Issue 94, 22 April 1931, Page 9

SCULLIN TACKLED

OPPOSITION LEADERS

PROTECTION TO! PUBLIC

(Received 22nd April, 30 a.m.) CANBERRA, This !Day.

The Loader of the Opposition, Mr. Latham, on the motion for the adjournment of the House of Representatives, asked if the Prime Minister was in a position to deny or confirm the rumour which had now gone through Australia that the Hew South Wale* Savings Bank was unable to meet the demands of depositors. If there was no truth in the rumour, all would be relieved. If there was any trnth in it, he hoped the- Prime Minister would lot it be known that the Commonwealth Savings Bank was entirely unaffected by the position, of the Savings Bank of New South Wales, and depositors in the Commonwealth Savings Bank had no reason to feel any apprehension regarding their deposits. He suggested that Mr. Seullin should state that other savings banks were unaffected; also that each State Savings Bank was guaranteed by the State, and therefore the responsibility for New South Wales Savings Bank deposits was on the New South Wales Government.

, Dr. Earl Page, Leader of the Coun- j try Party, asked the Federal Govern-1 meat to consider taking over the New South', Wales Savings Bank. If the Government would examine the_ position, it would have the co-operation of the ; Country Party. DEBATE RBaEBTTED. Mr. Scullin, replying, said that they were keeping in touch, but had no | information of any bank being closed, j All he said was: Don't let thorn start j a panic in this Parliament.'- "I regret i the whole debate," he added. j Mr. Seullin said that all the resources .: of tho Commonwealth would be used to protect depositors. He urged mem-, bers to keep their hoads. So far as the Government could influence Parliament, it would induce it to extend all pow-| ers and trust the Commonwealth Bank i to protect every depositor in every savings bank in Australia.