N.S.W. POLITICS
MR LANG AND THE BANKS. A DAMAGING STATEMENT. United Press Assn.—Elec. Tel. copyright, SYDNEY, Feb. 16. It was reported in the press this afternoon that at the request of the Premier, Mr J. T. Lang, the New South Wales Cabinet was considering a new scheme under which the State Savings Bank would bo converted into a trading bank to which would be diverted Government revenues amounting lo between £10,000,000 and £45,000,000 a year from the Commercial Bank, Sydney, and the Bank of New South Wales. This was said to be a corollary to the Premier’s new financial proposals for the reduction of interest payments on all New South Wales Government bonds to 3 per cent, Mr Lang this evening declared that there was no truth in these statements. He described them as propaganda, pure and simple, with the intention of damaging the Government Bank.
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Waikato Times, Volume 109, Issue 18255, 17 February 1931, Page 7
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146N.S.W. POLITICS Waikato Times, Volume 109, Issue 18255, 17 February 1931, Page 7
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