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Wednesday, 2 April 1941

Senator DARCEY (Tasmania) . - Like the Leader of the Opposition (Senator Collings), I accept no responsibility for the way the Government proposes to raise the money to finance the child endowment scheme, but I entirely disagree with the method proposed by the Government. This is the greatest piece of social legislation ever introduced in Australia in the Commonwealth sphere, and I maintain that the money required for the scheme could he raised by the use of the national credit through the Commonwealth Bank. Honorable senators opposite may laugh at my suggestion, as they have frequently done in the past, but I repeat that the Royal Commission on Monetary and Banking Systems, which was presided over by a Supreme Court judge, declared that the Commonwealth Bank could issue interest-free money to the Government. I suggest that the Government should avail itself of national credit in order to finance this scheme.

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