CENTRAL RESERVE BANK.
FEDERAL GOVERNMENT’S PROPOSAL. < MELBOURNE, April 16. The banks of Victoria oppose the Federal Government’s proposal', to establish a Central Reserve Bank on the ground that the time is inopportune tor such a measure, wlrich would hamper the banks’ efforts to assist the Federal and State Governments. It is pointed out that a Reserve Bank could do no more at present than tlie Commonwealth Bank is doing. , Mr E. G.- Theodore, Federal Treasurer, stated to-day that the time was never more opportune for a Central Reserve Bank in Australia. It was quite incorrect to say that a central bank would cause a financial disturbance. This could only occur if the banks resorted to obstructive' tactics, which he could not believe they would do.
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Bibliographic details
Manawatu Standard, Volume L, Issue 120, 17 April 1930, Page 7
Word Count
125CENTRAL RESERVE BANK. Manawatu Standard, Volume L, Issue 120, 17 April 1930, Page 7
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