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PREMIERS' CONFERENCE
COMMONWEALTH OAHK.
MR FISHER'S PROPOSALS.
CRITICISM BY MR WATT.
| The sittings of the Premiers' Confer-
. enco were resumed tit the State Parlia
ment House at 10 o'clock tills .morning.
Tho five Statey ivprescntcd were New
South Wnlo«. Victoria. Queensland. Tas
mania ami West Aurirnlla.
COMMONTY K A LT1 f SAVINGS HANK.
The proposals of the Commonwealth
Government elth rcimrd to the Com--
tnnmveaUh Hank ami Savings Bunk
were further considered.
As laid hefure the Conference t»y Mr
Fisher. H:c proposal. r.re ns follow: —
j The state to become partners with the
Commonwealth hi (ho Commonwealth Bank—
ts) by snppjTlnr; t>ortlon ot the rapltnl. not
t'xrecillni: one-halt: (b) b. each StatR bceora-
i inh responsible (or the llnhllUlr c( the bank
hi prnporibu to the rapltnl fiuWcribed by It;
i n i by e.uli state sharing the protllB, tn pro-
I portion to t-aphal fulrcrtbetl by It.
E.wli Stat- to me the Mak a.- (or as prac-
. ticablo tt.< hanker.
j The Carnr.tntiweuhlj Hank to take over the
j Satiayn lianli of i-4th State, whether Govern-
! After the "oommnijwcalth Hank ' ha 'taken
over the burine of the State Savings -lank,
the State Covemm.nt to have flret rail on
any amouut whuh it repay to the Saving
Tlank In redemption of loan exltlng when
the bank we taken over; also, to hare flnit
porit. in the State available for Investment.
Mr \V. a. Watt (Vic.) sai l Unit he did
nut see much. If any, advantage In «c-
ceptlnz the proposal of the Common
wealth Government. He could not =»ce
the slighio"' ni»re!»!ty, front the stand- !
point of the people, for the establish
ment of a CV-mmamvonlth Savings Bank,
though there might lie a nivcsslty from
the standpoint of tho central admin
istration. The Commonwealth Bank
would not nt once leap Into success, but
! without the ntd of the State Savings
I Hanks it might look forward to a lin-
. goring youth nnd n postponed nmnhojd.
It was simply to glvu succe to the
! other branch of tho scheme that Mr
Fisher wished to Incorporate his Sav
ings Bank re.hetne In the Act.
QflCSTlON OF TIME.
Mr Wait (Vie.), continuing, said that
out of £i7.000,(rft) the Victorian Gov
ernment owed the Commissioners
£10,000,000. Now. out of tho remaining
£7.000,000, the Victorian Government
might, nt any time, require another mtl-
i Hon or so. It was an Important prlvl-
! lege to yield. There was another de-
I feet In Mr Fisher' h proposal. It wax
j the question of a iwrlod. It could bo
relied that tho Federal Government
would honestly observe whatever
I periods were fixed, but ut tho end of
tho period tho States would have to ac
cept practically what was given them.
; Mr Scaddnn" (W.A.) said that the
period could be made ton years, or
until such time as the Parliament had
, decided on.
j Mr Walt: Think what occurred In
I tho case of the Hraddon clause.
I Mr Dcnham (Q.): It would be the
' rame thing over again,
j .Mr Watt said thut If ft State, at tho
end of tho period, did not ehooso to
nccopt whnt was offered. It would havo
neither officers nor machinery.
Mr Murray: It could bo provided
that in tho event of n fulluro to agreo
the original position could be reverted
to.
Mr Watt said that that would bo
Impossible to curry out. becauso then
the expert officers would bo the officers
of tho Commonwealth. Whntover
term was fixed the union would In
reality-bo nn -Indissoluble one.
Mr Wttth.OV.A.): Although wo are
contracting parties, wo shall have no
' nno to guard our Interests.
Mr Watt: We havo got a splendid
business. If our forefathers hnd
understood what would corno from this
effort to encourage thrift, thoy could
not havo hulklcd bettor. Tho relations
between the Government nnd tho Sav
ings Hanks of Victoria were altogether
j admirable.
I Mr Donhnm said that the samo. thing
'was apparent in the British national
I debt. - ' .W:;
i Mr M'ait: Uur Victorian Government
I owes fur moro tn the struggling classes
| than tho Ilrltlsh Government. docs, the'
national dobt being money chlafly
owing to capitalists.
Mr Wiitt, continuing, raid Hint Mr
T— -.Tl j
Fisher had put the matter before them
In a very temperate, speech,
Mr M'Gowen: tt was an admirable
speech.
Mr Holman: It was an admirable
speech by an admirable man.
Mr Watt said that, he fully agreed
that the speech was an admirable one,
but. nl! tho same, he did not think that
thoy would be justified In accepting Mr
Fisher's proposals. If the Common
wealth Savings Bank were established
ho thought they could trot alongside the
Commonwealth bnnk and do their beat
to tnnko their banks so advantageous
to the people, that they need not fear
competition.
Mr .Scaddnn (W.A.): It might work
out in your case. It would not lri ours.
ATiTKRXATIVE PROPOSITION.
Mr M'Gowen (N.S.W.) sold that he
wished to mako un alternative proposi
tion. He said that In ever- fight when
the Slate constituents were divided
against the Commonwealth constitu
ents, tho State Parliaments got the
worst of the deal. The Commonwealth
Government, to make its bank u suc
cess. required the Ftate machinery in
the Htato Savings Hank, and also re
quired tho itnto Savings Hank funds. If
It cnin« to n fight people'-would with
draw their money from the Stato Sav
ings Battle tu put it In the Common
wealth Saving (Junk, out of pure senti
ment.
Mr Scaddnn: That will operate most
strunply in our part of Australia.
Mr M'Gowen suggested that the Fede
ral Government sitould be allowed to
have 25 tier cent, of the new business If
It did not ofttahiibh a Saving Bank at
all. That would be more than a mil
lion a year from the two most popu
lous States. That should, ho thought,
suit Mr Fisher without his starling his
new Savings Bank at all. Mr Fisher
asked for tho machinery, and ho de
sired control of it. Ho (Mr M'Gowen)
would offer him the use of It without
control.
Mr Watt:, Your proposal Is that wo
should huy him off by an offer of a mil
lion nnd a half a year from Auotraliu.
Mr M'Gowen raid that Mr Fisher had
convinced him that his Intention 'was
n reasonable one.
Mr Holmnt; (N.SAV.) said that Mr
Wait hnd abused the proposals.
Mr M'ntt: I certainly used no adjec
tive. (Laughter.) "
Mr M'Gowen: They uru unparliamen
tary here, whatever they may be In the
Victorian Legislative Assembly.
Air Watt (laughingly): 1 should rather
refer to the New South Wales Assem
bly. I don'l mind having my language
commended from n Victorian atand-
point, but I can't stand compliment
from the New South Wales Parliament,
daughter.)
Mr M'Gowen: Well, we have a rather
original Speaker.
Mr Dcnham: Why should not each
State uso its full savings for the de
velopment of Its own territory?
Mr Holman: The answer is that. If
you allow tho competition to go on,
you may not have even 75 per cent,
for uso in that way.
Mr Wntt said that the necessity of
tho Commonwealth Government was
to get a trading capital for Its bank.
Mr Holman: How can that bo said
when there Is a transcontinental rail
way in contemplation?
Mr Dcnham: Is thero any reason for
disturbing the Stato Savings Banks?
Mr Murray: Tho question is, will
they be disturbed less by tho two Sav
ings Banks in competition or by tho
Commonwealth Government accepting
25 per cent, of tho new business?
PART OP SENTDIENT.
Mr Dcnham: Sentiment has been
mentioned. I think that the senti
ment of the pcoplo will be to support
their own banks, as that means the
construction of railways tn tholr own
Slates.
Mr Scaddnn (W.A.); I think you
aro wrong.
Mr Dcnham raid that If It enmo to
a stnnd-up fight they had nothing to
fear.
Mr Sendtlan sold that thoy had largo
branches or ugoncies, especially on the
goldfiolds. In rcgnrd to which sentiment
would tell against tho States nnd in
favor of the Commonwealth. Tho Com
monwealth couhl not Inereaso tho Sav
ings Banks facilities in the West; but,
all the same, tho State Government was
root in a position to fight on this ques
tion. Or, nt nil events. If an agree
ment could be reached, it would please
thpin much belter.
" Air Walt:' Aro you in favor' of Mr
-M'Gowcn'u proposal to buy -Mr Fisher
off?
Mr Scaddnn: I - want to co-operaio
with tho Commonwealth. Wo have Just
received a mandnto from tho people or
West Australia to work with the Com-
Tnonwulth'U.liiuiidMniiSif
will de
are properly : oan«» rUT
stronger. - FedorpJ;
Austraj ta'tliM-ft
mu the only StaU tPWBM lhe'rMH
fcrendura. sr
Mr-Wati: ?na>t- WM ii UnlfrMptriH
Sir W. E. Lewla.tTu.) Mid tte-eojH
side the eapltaV elty of .Hotw ja
Tasmanlan Savins,
done through the
dlineult position for thero. TMijMojgB
he willing to fall In; y-.IUl'Mr. fr'jliiu'iB
proposition. ii-tfnn!'' ;
. A ocEEnsiiAiwp- vnnfca- JB
Mr Barnes ;
savings' bnnk pertLm.of. the echnMriftt9H
an afterthought;, bb4
been thought out fa
Ing on the Interests' qf tfae Bft
merely with a. yiew/df.'Wvitv tlMgiiiM'jfl
monwtalth G arc mm sat 'if ro m 'gTfjK 9
created difficulty. Theq0ertIo'tt| lH
ciency had cropped. C-Up/
must count for. '8omethJagt'
ally speaking. n|i;?lhftt=:thy?|||||L
row had . their finger. 'yon
busbies.-. why--f)houl£ ;))£?. jB
The Commonwealth 'proposal " YmSp v9
case of "Heads t win, tolls Vofl NjjjR M
Mr Scaddnn: It is. BuVthe CttfliflK.-jfl
wealth has the option of saying
win
Mr Barnes 'said 't!taVvtck¥;.adioN|jK-v3
The Lh.mg<? wnn In the dlreotlcm
Oration. It wns a blow , struck
State. /
Mr Watt: one of the most atasfBPR
Ing blo.vs thnt. we' have: received.
Mr Hotmail ralribho ndalttedrtMpi||
there was enormous' weight;- jq jSBaM
criticisms of Mr Watt. buXthb-poaljfiR®
thnt they had to-fnc« w ay. A Kg f 'rriRiMr;
measure were' being taken-
would have an effect" on>"tte ' St53i£i
Savings Bank. The duplication Vflfy.v
effort would- a bad thlng. .To hATfl>'V'
two net of.'ofiIefrH.; two;,Mis''0r.)n«:4'r
8pQCtor» travelling- t he - 'cociitrY.f
Kcts of collectore- iir
petition, and. nil. at
same people u'ouicj be .|n
avoided If possible. .
proporal renicd a' y ,jk'J t;.'7gMajH
was wot th dlscuMslon; v
blood of Tin-: nowRH
Mr Barnes gald- thol :tiie'tfWiR6tf|B
Mr M'Gowen. certainly, lnft
without much' room ror .objilCtatU ..7|H
he defirtd tn'e a.1va«t«gc:of;Wg>sr. cehttH
of the new l>u>hcfM, the oTpoinqit couliyj
bo collected' by tho'Stntfi' gftriM Rank'«
collectors tind i!ep.iltCHl In
inonwcnlth bunk. If, on ithaf - OthflllM
hand, Mr Fisher desired a flghtv . thqifl
the blood uf that 'Ight wouWF.be oti»
his head. ... . .-'IM
Mr Watt: The blood of tbls'oompstt J
Hon Is on his head. I wouldU'tlks ' tofl
point out that Victoria, with 'Vt/SkVimfl
Bank branches and SGO'CpfiM 'oflqpS
agencies, gets 87 per cent- of tSMl Qtonqfl
from the branches,-. »«
Mr Bath (W.A,) aia'Wil»d 3M«
doubt that tho Xlommohw— ttfc ,OOUk|fl
mako an early sucoowJ/'-i twa
Commonwealth"- -baii)ringf-;V:p«#foi«Jfc|i
It tho conforence dlssolYtkl -Wltkogla
making an arrangement,
Australia. would be compisUedtt ' Agril
quicsco In the Common wofldtbv.qitAd 9
fishing its Savings BanJc. Tlfl I .yuida
mean largo wlthdraw£lg;Atti.,'th«|
Stato bank. in- . turn,;
cripplo their Agriculttiml jonk.'-- MM
they had to call;::ia;.. mrwJrfrt>vtl8W
agriculturists It would
ous crisis. . Many. tlilngi TS4nMf;IMItiMB
tho delegates of
socure, if possible noain.'idHidMMI
Tho Injustice
schomo lay in the. fniet tlwttttQ 6118
.wero not to bo given any tign
management Be ' wag . ppymj |
endorso Mr M'Gowen's pvepegRd'' >
The conferenoe fliljftncrtid ffl If (p$M
day morning- ; -9
4 f- J
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