SAVING THE BANKS.

Star (Christchurch), Volume LXVI, Issue 20273, 6 April 1934, Page 1

SAVING THE BANKS.

Mr Lyons Promises Aid Against Labour. GOVERNMENT’S ATTITUDE. United Press Assn.—By Electric Telegraph—Copyright. SYDNEY, April 5. Addressing the United Australia Party convention of 350 delegates in Sydney to-day, the Prime Minister, Mr J. A. Lyons, referred to the threat made by both the Federal and Lang Labour forces to overthrow the trading banks. “There will be no banks open in Australia if these people get control again,’’ said Mr Lyons. “The banks were the sheet anchor during the stcrmv days we have passed through, saving us from failure. We cannot allow any sly scheme to destroy them. My message to Australia is that the present Government will stand four square in opposition to any attempt to interfere with these institutions which hold the savings of the people.” The announcement was received, with prolonged cheers. Mr Stevens, Premier of New South Wales, in the course of an address on the extent of the Government’s taxation relief, said: “We shall continue this policy of effecting a further reduction of tax levels. Also, new proposals will be submitted to Parliament at the end of the month to relieve unemployment. Additional work will be provided for thousands of men who will receive special winter allowances.*’ Mr Stevens emphasised the point that the spirit of progress had reappeared in the community and the fear psychology” engendered by the Lang administration had gradually been overcome. The new Upper House would give the public a sense of security and confidence.