A WARNING

Hokitika Guardian, 7 November 1932, Page 5

A WARNING

TO PRIVATE BANKERS.

LEAVE POLITICS ALONE

i< Australian trtss Association.)

CANBERRA, November 5.

The Postmaster-General, ’Mr R. A. ParkhUl, in the House of Representatives on the Ottavva Agreement warned the private banks that if they d’d not refrain from issuing political propaganda • they, might be thrust into the “whirling eddies of the maelstrom of politics,” from which there would emerge only one issue, the nationalisation of banking,, -

During the idebatei-Mr,.J. A. Beasley quoted from and praised a circular issued by i the Bank of New South !Wales criticising the Ottawa Agreement.

The .Assistant-Federal Treasurer, . Senator Massy Greene, who is actingchairman of the Loan Council, issued a statement, in which he criticised the methods of the Premier of New South Wales, Mr Stevens, at the last Premiers’ Conference. He alleged that Mr Stevens was trying to push 1 the interests of the trading banks to the detriment of the national institution and the other Premiers had every reason to resist such action.

The “Daily Teh-graph” says that the statement has blip endorsement of the other Cabinet Ministers. Mr Steve 1 is stated that his proposal to the conference was better than the Commonwealth Bank’s scheme, . which had been rejected. lie said : “Surely no one w I U quarrel

with the trading banks, which carry the bulk of the business activities of this country, when they have offered to ■subscribe a large .proportion of the internal loan of £8,000,000 at 10s per cent, less than the rat© recommended by the Commonwealth Bank and the Commonwealth Government ?’ ’

PREMIER DEFENDS THE BANKS

SYDNEY, November 5

Mr Stevens, Premier of New South Wales, in reply to Mr Greene, in the Assembly, skid: “Surely no one will quarrel with the trading banks; which carry the bulk of the business activities.