A NEW POLICY
NATIONALISATION OF BANKING
ADOPTED BY N.S.W. LABOURITES
(Australian. Press Association.)
SYDNEY, August 29.
The New South Wales branch' of the Federal Labour Party has adopted a new policy for the nationalisation of banking, and tlie'party will fight the next election upon this issue.
Thiq policy adopted is one that provides for the compulsory- acquisition of all of the private banks with compensations to--the , shareholders, and the conversion of all of the banks into a Commonwealth .banking service. ,
The shareholdings in all banks would he converted, at a fair valuation, into interest ,bearing securities, changeable against ,tl i» nationalised bank.
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Hokitika Guardian, 30 August 1932, Page 5
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102A NEW POLICY Hokitika Guardian, 30 August 1932, Page 5
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