BANKING POLICY
IMPORTANT AUSTRALIAN REPORT United Press Association—By Electric Telegraph—Copyright (Received July 20, 10.10 a.m.) SYDNEY, July 19 The report of the Royal Commission on Australian banking and monetary systems which heard evidence last year, was issued to-night. The report recommends no change in the existing banking systems in Australia, while with one dissentient, nationalisation of banking Is rejected The Commission suggests that legislative provision should be made for fixed and long-term lending, and recommends that a mortgage bank, or banks, should provide facilities for lending on land and Improvements hi country districts. The Commission expresses 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 It also recommends that a system of decimal coinage should be Introduced, based t -on a division of the Australian pound into thousandth parts.
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Bibliographic details
Timaru Herald, Volume CXLIII, Issue 20784, 20 July 1937, Page 7
Word Count
150BANKING POLICY Timaru Herald, Volume CXLIII, Issue 20784, 20 July 1937, Page 7
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