CREDIT POLICY

Grey River Argus, 19 August 1937, Page 6

CREDIT POLICY

ALBERTA BILL Blocked by Federal Government [Aust. & N.Z. Cable Assn.] OTTAWA, August 17. The Dominion Government has announced that the Alberta Bank legislation will be disallowed. The legislation provided for the licensing of banking and kindred corporations. The Premier of Alberta, Mr Aberhart, had, in replying previously to the Prime Minister, Mr Mackenzie King, refused to agree to a test case in the Supreme Court, contending the Act was wholly within the jurisdiction of Alberta. He claims that it interferes with the private rights of no sections of the community if they co-operate with social credit. If the banks agree to licensing, he is willing to grant a flat for a test case later. He is compelled by the mandate of the people to proceed with the enforcement of his legislation, N.Z. Banking Pokey AUCKLAND M.P’s. FORECAST. NOT VERIFIED. AUCKLAND, August 17. A forecast that a further step toward the complete control of banking would be taken by the Government m the coming season was made by Mr A. S. Richards, Member of Parliament for Roskill, when speaking to electors at a meeting at Mount Albert to-night. MR SAVAGE’S COMMENT. WELLINGTON, August IS. Commenting on the suggestion, reported to have been made by Mr Richards, M.P., at Auckland last night that the Government will be taking a further step this coming session towards the complete control of banking, Mr Savage said to-day that, while the Government was getting satisfactory service from private banking corporations, it would be satisfied. "If we do not,” he added, “then we will provide it ourselves. That statement is not new. 1 have made it many times. So far no definite decision has been made. >