DEPOSITORS REASSURED
N.S.W. SAVINGS BANK FUNDS
MR- LANG’S FINANCIAL PLANS
ALARM OVER PROPAGANDA
/ DENIAL OF STATE CONTROL
By Telegraph—Press Assn.—Copyright. Rec. 10.15 p.m. Sydney, Oct. 10. During the New South Wales , elec•tion campaign there has been much political propaganda at the expense of the State Savings Bank which caused a feeling of uneasiness among the depositors. Mr. J. T. Lang, Labour Leader, has been repeatedly asked by questioners where he is going to obtain his millions with all the overseas markets closed to Australia. His reply usually is: “We obtained all the money we wanted when we were in office in 1927 and we will get. it again.” Accordingly the commissioners of the State Savings Bank to-day issued a statement assuring depositors that the bank is not subject in any way to direction, control or veto by the State .Government. Its funds are vested in three commissioners who can be. removed from office only by resolutions of both Houses of Parliament.
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Bibliographic details
Taranaki Daily News, 16 October 1930, Page 9
Word Count
161DEPOSITORS REASSURED Taranaki Daily News, 16 October 1930, Page 9
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