AUSTRALIAN BANKING.
NO NATIONALISATION.
ROYAL COMMISSION’S RECOMMENDATIONS. <By Telegraph-Press Assn.--Copyriglxt) Received Tuesday, 12.10 a.m. i. . SYDNEY, July 19. The report of the Royal Commission on the Australian hanking and monetary systems on which evidence was heard last year, was issued to-night. It recommends that no change he made in the existing hanking systems in Australia, while with one dissentient the nationalisation of hanking is rejected. The Commission suggests that legislative provision should he made for fixed and long-term lending and recommends that a mortgage hank or hanks should provide facilities for lending on land and Improvements in country districts. The Commission is of the opinion ■that better provision is necessary for financing small concerns engaged in secondary industries. It suggests that the Government with the assistance of the Commonwealth Bank should investigate this problem. The Commission recommends that 51 system of decimal coinage should he introduced based upon the division of the Australian pound into ■thousandths parts.
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https://paperspast.natlib.govt.nz/newspapers/HC19370720.2.46
Bibliographic details
Horowhenua Chronicle, 20 July 1937, Page 7
Word Count
157AUSTRALIAN BANKING. Horowhenua Chronicle, 20 July 1937, Page 7
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