NO RECOMMENDATION
FIDUCIARY, NOTE ISSUE
FEDERAL LABOUR CAUCUS
(Received 9th October, 10 a.m.)
CANBERRA,: Bth October.
The Federal Labour Caucus, refrained from expressing an opinion on the advisability of reintroducing immediately proposals for a fiduciary note issue and changes in the control Of banking. Mr. Holloway urged that such a course bo taken, but Mr. Scullin expressed the opinion that it would be most unwise for the party to pass such a resolution.
The meeting ended without any vote being taken. It is not expected that the motion will bo brought before the party again, Mr. Scullin told the caucus that lie believed that the British pound would shortly settle at 17s or 18s, and the possibility of a drop in exchange to 20 per cent, would mean a reducl tion in the Government's commitments by £3,000,000 yearly.
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Bibliographic details
Evening Post, Volume CXII, Issue 87, 9 October 1931, Page 7
Word Count
138NO RECOMMENDATION Evening Post, Volume CXII, Issue 87, 9 October 1931, Page 7
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