FEDERAL LABOUR PARTY

Grey River Argus, 17 August 1934, Page 5

FEDERAL LABOUR PARTY

POLICY SPEECH By the Leader BANKING REFORM. (Ans. & NZ. Cable AssnA MELBOURNE, August 15. The Federal Labour Party’s policy was explained to-: ight at Richmond b Mr Scullin. Leader o fthe Oppoll v said that the Labour Party would coni in tie its work in expanding the (’unimoiiwea!‘h Rank fr< m the point where it was interrupted in 1924 thereby ei a bling the Bank to enter into vig rous competition with the private • 'auk.*. Matters of high policy would be determined by Parliament and executed by the Government. An inquiry would be conducted in the whole monetary question, as well as the operations of pri\at c banking. The Commonwealth Bank would be expected to provide Cl.oou 000 month for the employment • f 50.000 men at full time on public The control of the monetary machinery for private profit had to give way to national control for the benefit of all. Aloney must be the servant of industry. Control ol the Commonwealth

Bank by a full-time Governor of proved capacity wa-s preferable to the oligarchy composed of directors with greater interests in the outside banks’ operations. Parliament would determite the Commonwea’th Bank’s policy and administration. INDUSTRIAL DEVELOPMENT. Air Seullin outlined proposals for a three-year plan for the stabilisation of the wheat industry, involving a national wheat pool, the plan envisag ing th ( > home consumption price of 4s per bushel. He warned his hearers that .unless Labour were returned, m< re .severe inroads in th ( . tariff would result, especially if the Country Party demanded important portfolios in the prospective Coalition Government, which demand was inevitable. Labour was more than ever convinced that adequate protection was necessary for Arstralian development. Labour also strongly opposed the e.xplota’ion of Northern Australia by cha rate red companies. Mr ScuHin Wholly condemned th p Lyons administration for its failure adequately to reduce unemployment, and its mythical claims about balancing Australia’s oversea trade. Air Scullin him.'e’f took credit for having laid the foundati< n of the improved conditions at present enjoyed by Austral.a. He urged the people to ignore wild charges as to Labour’s intentions regarding banking.

Lang Labour’s Policy

MR BEASLEY’S EXPOSITION. THE BANKING ISSUE. (Received August 16 at 9.50 pm.) SYDNEY, August, 16. Air Beasley, who leads what is known a. ’he Lang (or State Labour) faction in the Federal Parliament, delivered a policy adiboss at the Glebe Town Hall to-night. He said that his Party intended to aim at banking reform; the limiting of the activi ies of banking companies, ami the regulating of its method of making credit available; also the restoration of pensions; the restoration of public servants’ salary’ cuts; and the expansion of the social There would be a vigorous public works campaign, financed by leans, and an honest attempt to aid the wheat farmers in obtaining better prices for their wheat without making bread any detlrer. Air Bea.dey said that efforts would be made by his Party to afford relief to the farmers from their debts while at the same time placing wheat growing on a better basis Re-afforestation would be tackled along national lines, as would the de-' velopment of Northern Australia to cn -are closer settlement and the opportunity acquiring small holdings at low interest rates.

Immediate attention would be given bo the producing of oil from shale and coal in order to relieve the distress resulting frum unemployment in the coalfields.