CONTROL OF BANKS
AUSTRALIAN PLANS GOVT. MISREPRESENTED. (Rec 9.5) SYDNEY, Nov. 23. The Assistant Federal Treasurer, Hon. Mr Lazzarini, commented today on a statement in a circular issued by the trading banks regarding the policy of the Commonwealth Government. The circular asserted that, without consideration for the views of those who wished to borrow, the Government might assume the right for all time to investigate each application for an overdraft, and to veto those ones of which it did not approve. Mr Lazzarini said that no. interference with the normal business practice of the banks, or with ’ the funds they held for accommodating customers with advances, was intended by the Commonwealth Government. • , Such statements, declared the Minister, were “deliberately calculated to mislead.” Whatever the Commonwealth Government might do .about banking in the immediate future, ‘its proposals were concerned only with control of the banks, and not with the details of their management. The Government had no intention of interfering with the bank deposits.
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Grey River Argus, 24 November 1944, Page 5
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163CONTROL OF BANKS Grey River Argus, 24 November 1944, Page 5
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