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Wednesday, 3 May 1961


Mr GRIFFITHS (SHORTLAND, NEW SOUTH WALES) - Has the Prime Minister seen the statement made by the United Kingdom Prime Minister in the United States df America recently when, speaking on the economic problems of the free world, the right honorable gentleman drew attention to the imbalance in world payments and reserves? He also declared that money was the most important factor in trade and that it was the responsibility of the free world to adjust its credit system to meet requirements so that money would become the servant and not the master of man's needs. Does the Prime Minister agree with the view of the United Kingdom Prime Minister? If so, will he take immediate action to see that the hundreds of millions of pounds now lying in the Reserve Bank of Australia are released and made available to expand industry, provide work for the 80,000 unemployed, and provide finance for local government bodies and State governments to construct port works, roads, schools, housing and public works generally?







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