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BANK
HI
REACTIONS TO '1
HIGH COURT'S $?
RULING
CANBERRA, Thursday— Hie
immediate reaction to the' High
Court verdict on the Banking
Act is a' strong feeling among
Ministers that the common
wealth Government should con
tinue its fight to control private
trading banks.
However, no final decision will
be made until the Judgment has
been fully analysed.
It was suggested that a special
meeting of the Federal cabinet
might be summoned before the
next scheduled meeting on Au
gust 30. However, there was no
official confirmation of this re
port, and Ministers on' August 30
will certainly diicuss the
Court reverse.
Two courses now open to the
Government as a result of the
invalidation of the principal
clauscs of the Banking Act are:
1. An appeal to the' Privy
Council against the judgment.
2. Revision of the present
Banking Act, whereby the of
fending section will' be amended
and presented to Parliament In
fresh form.
The Acting Attorney-General
(Senator McKenna) last night
received a copy of thy judgment,
which was flovyn from Sydney.
He will prepare recommenda^
tions for Mr. Qhifley, wh«v; ; ln;
turn, will riiake submissions- to
Cabinet
Senator MlcKenna^buld;1 Jgiye
?noviridisat^.^fet&^f.^^ckK
'vernment; would .appeal , to thp
I n.t...r nAimnll . ThlB/mHr^haVfl W
be.'determined by vyie:,; Fedeipal
Cabinet;;i'Si^ciarieaye;to
would have to be .obtained from
'the:- ftivy'.'Councli.^^
i Mr^ Chlfley^was Jflying from
Cariberra to/Meibo^rne; oil :''de-y
ment was given. v-vi':!;. : ..'S-.;
' Senatqr -'Mckenria said tie
mentthoroughly'.tb., see !' i:^wlia| '
sectionsTWere ameridable'ror 'ap-;
pealable)' - , .
-: HiSh
Court {decision; itlie 'acting lead
er of v tlie ? Fediwal fpppositibn
(Mr,. jHarrison) said ? that .it made
would; not ; tolerate, any/ Interfer
ence 'with' ? the constitutional;
; Tte]; i^irdkia'iv j 'fSR-c^ternal
;i»e.
Banking, -jAct, - 1047, being declar-,
ed i^yalii^V.i-. ;
i'I^ceiibrses.are:'accustomed to.
upsete--ofi'formi; ? ' but-, the High
Court; rieyer,V: he said. :
In Melbourne, when the Fede
ral president , of the ; 'Liberai
Partv,: (Mr .'-' Casey V i was Mold of
claimeijl;,;'Good-Dh i .^Now, jthe
Australian people ? can all,
breathe.ygain.': ; ?
Jh^ leader , of ,the Inderal .Par-r
liamentary,.: Country Party . (Mr^
Faddenl .'Sald . that, such- .a de:
cisive setback, taken with . tne
unmistakable attitude of « the,
Australian, people, ' sljoiiid make
the Government - forget - all
thought of 'foisting' its Socialist
policy, on the :natlon.'',, -
The leader of the State Op
position, (Mr. Treatt) said: 'The
judgment on the legal 'issues wll
be received -with .profound satis
faction by- the people who stead
fastly^ opposed ,, this attempted
Socialistic coud..
The NSW. leader of the coun
try t Party (Mr., Bruxner) said
the news would be . welcomed , by.
a very large majority of the
people;, of Australia becaxise they
had .always, felt that such a 'eY'
olutionary: change should have
been referred to them, and be
cause they, were not in favor o
creating a banking monopoly
The N.S.W. president ol th=
Liberal .party (Mr. spooncr' sal
tha(; Labor had trlcd t° natl°'®'
llse. the private banks and faUM
If Labor went on with f'r *
litigation, it went on a'
1 more ? surely to political ex -
tionias .the' result' of, .its i/folly^.-'g;
?I'The;, ' Federal Speakef . JMr.;
RbseVear); 'said ;hS . had /not , ex-:
pected' any. pther result 'frpm^.the
Higiti Court as It was ..'at. present,
constituted. , ? . ?
The Vifctorian- Premier ; ' (Mr. '
HoUwayV said there' - would- be
strprig^; pressure ; from Labor
mfemlietS to drop the whole blat
ter j for fear, -,.of ' mpribpol^. belng
made an 'election issue. . /
,);.The ' president of the A.C.T.Ur
(^^qiarey)' '? and the. secretary
;(j^iiiprik )'in a joint state-
rnentc said tliere was ; .a ...funda^i
mental, weakness in the Austra1;
liailCoristitutton^whtchpreventV
ed v 'the commonwealth Parlia-.
mdit from ; passing legislation;; In
a' democratic' country^ ? The. re
sult-was- 'deploi-able1, for Austra
lia's future ? '( 1 Wi ' '-
mcn&gionj.ttie^Hlgto^Optjft .Jter!
cision ,'on vthe : Banking Act, said
it':'wMii;«eat;:newsf^rvK;^
Australian i who .objected I'to . tyrr,
anny ' t , '2 /a 1
?foitfaxnfo ol course) ' delighted,-J
he ^said. .['The . High' Court, de-,
cisfon1 now y shows that the
butiithis : limitation -on,,Com-:J
moriwe^thYpower.,is;rComRlet^y;
in; line with . Australian.;, public
AtfGeneva, : the; Australian, v At-.;
torney^Ggneral^fijr.^vat^ji'r^.
fused to comment, „ ,
'' London's ' Reception,
J oiNews - !
- LONDON,1- Thursdiyi -r There
is^ai touch 'Of. ruefulness .in Lon«-
don's/reception of the news of
the -Australian .High Court's ver
dict; on'the Bank Nationalisation
A'cb,'., because none of , the series
of tlie - United /Kingdom- nation-;
alisatiori - measures had- to run
the,' test: of, . fappeal 'on.--: con-,
stltutlonal grounds. ? |
?Tho1 financial1 writer: '?! of the
'ibridon Times,' reporting, this.;!
saysiit is 'assumed that thd Com
monwe'alth, aovemmeritwillbej
eoritent to 'abide by the court's I
decision, an 4 rriot, take, the . mat
ter further by, appeal to the j
Privy Council.,. |
printed; and- published by Wii- 1
' liam -Henry Pinkstor^e, of. , 157
? Wallendoon street, Cootamun-,
draft :at -the 'Cootamundra |
Daily - Herald'! Prlntery, 100
Wallendoon : street, cootamun-^
dro, for 'the registered firm of
W- H PlnUstonc and Son.
$