“NOT DICTATOR”

Taranaki Daily News, 5 October 1931, Page 9

“NOT DICTATOR”

ATTACK. ON SIR R. GISBON ALLEGATIONS BY MR. LANG N.S.W. OPPOSITION BANKS “CONFIDENCES BETRAYED” REFUSAL OF AID RECALLED By Telegraph—Press Assn. —Copyright. Svdney, Oct. 3. An attack on the chairman of the Commonwealth Bank Board, Sir Robert Gibson, was made in the Legislative Assembly to-day by the Premier, Mr. J. T. Lang. He said Sir Robert was conducing the savings bank business in deliberate opposition to the State Savings Bank. Mr. Lang said he had received information that the Commonwealth Bank was opening, a number of branches in opposition to the Government Savings Bank. "It is clear to every reasonably minded man,” Mr. Lang added, "that Sir Robert’s personal antipathy to me is a very important factor, and I should say is the main motive in prompting the Commonwealth Bank to do all in its power to retard the rehabilitation of the Government Savings Bank. I do not mind Sir Robert’s objecting to me personally or to my politics, but I do very strongly object to his using the money of supporters of the Commonwealth Savings Bank to build palatial premises and conduct savings banks business in deliberate opposition to the State Savings Bank in centres where the State Bank will be able to provide the necessary service. "In connection with the proposed amalgamation of the savings bank with the Commonwealth Bank,” Mr. Lang continued, "the latter was given facilities to investigate the whole of the affairs of the State Savings Bank, and it is fairly obvious that they have taken advantage of this confidential information to guide them as to the best centres to open branches, "TRYING TO INJURE BANK.” "Sir Robert Gibson, while trying to injure tho State Savings Bank, is very careful not to open trading bank facilities in competing with the trading banks,” said Mr. Lang. "Sir Robert would not lift a finger to help to finance the savings bank of this State to the extent of one penny to enable it to grant some relief to old depositors, notwithstanding that the present commissioners were fully prepared to offer him ample security in the way of Commonwealth bonds. “But Sir Robert,” continued Mr. Lang, “should bear in mind that he is not the dictator of the whole banking policy of New South Wales, and despite his 'pronounced deliberate opposition, the Savings Bank of New South Wales will continue to function and will eventually become as strong as ever. It is a pity that we have not a Sir Denison Miller at the head of the Commonwealth Bank. (Ministerial cheers). "I regret that it is necessary to speak in this way. I have made every representation direct to the Commonwealth Government and the Commonwealth Treasurer, and surely those who have the power to conserve our rights should do so. The State Savings Bank has £9,000,000 more Commonwealth securities than the whole of the trading banks put together. While Sir Robert is standing behind the trading banks he refused to stand behind the Government Savings Bank. "Before Sir Robert’s appointment to the board, I wrote an article stating that one of the worst things that would happen to this country would be the re-appointment of that man as chairman of the board. Perhaps having read the articles he has not forgotten and has not forgiven.” ;