THE SAVING BANKS

Hokitika Guardian, 6 May 1931, Page 3

THE SAVING BANKS

BACK TO NORMAL. (Australian Press Association) SYDNEY, May 5. Business at the Commonwealth Bank has now become normal. In additim the number of necessitous cases tin t are heing dealt with at the N.S.W. State Savings Bank have dropp’d very substantially, although scores of cases of hardship still prevail among the depositors in the N.S.W. State Hav mgs Bank. So desperate is the plight of many of the small tradespeople whose savings are impounded there indefinitely that a percentage of thornare now attempting to sell their passbooks to the highest bidders in order to obtain ready cash to meet their hills.

MR THEODORE’S POINT. . MELBOURNE, May 5. At Melbourne the Federal Treasurer. Hon. E. G. Theodore, addressing railway men, again attacked the hanks f «>r their obstruction of his financial policy. He said that it had been represent'd by Sir Robert Gibson that the bank* could not extend further credit. Yet said Mr Theodore, in the case of the New South Wales Savings Bank emergency, the Commonwealth Bank came to its aid, and accepted the responsibility for its liability, the amount of which might easily run into a million sterling.