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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Cairns Post
Location
Cairns, Queensland, Australia
Date
May 31, 1930
Page
14
A fragmented discussion compares central banking proposals with the existing system. References to Commonwealth Bank, trading banks, and reserves, plus voices from German and British figures, frame a debate on central bank independence and political influence. Historical figures and figures in finance are cited as context for arguments about monetary policy and bank safety.
Boxing match in Indianapolis on May 28 saw George Cook outpoint Chuck Wiggins. Cook controlled much of the action as the aggressor throughout the bout.
The Bank of England is described as a limited trading bank used mainly in reserve. Banks rely on trading deposits, with large merchants maintaining two accounts. A bill clause allowing current accounts from corporations could curb financing trade, reduce bank staff, and raise unemployment. May banking data show deposits at £274,400,000 and advances at £266,000,000, highlighting banks’ crucial role in finance. The writer questions whether trading banks are harmful or stabilizing, urging continued strength and usefulness.
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