BANKING CHALLENGE
VALIDITY OF FEDERAL ACT DR EVATT CONTINUES ARGUMENT Rec. 11 p.m. MELBOURNE. Mar. 1. Argument on the validity of the Commonwealth Banking Act was continued by the Attorney-general, Dr H. V. Evatt. in the Full High Court today. He said that from the community viewpoint the important l thing was a policy of banking management on the general conduct of such matters as contraction of credit. No powers could be granted more widely than they had been by the special statute to the Bank of New South Wales. Dr Evatt enumerated many of the functions of the Australian trading banks. “ The relationship of trustee and executor to the business of banking has been settled differently by law and practice in different Englishspeaking countries.” he continued. “In Australia, banks do not undertake this class of business, but with those in England and the United States the position is different. We submit that a law authorising private banks in Australia to transact that class of business would be clearly within banking power\
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Otago Daily Times, Issue 26709, 2 March 1948, Page 5
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172BANKING CHALLENGE Otago Daily Times, Issue 26709, 2 March 1948, Page 5
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