Lecture series on 'The Growth of Commonwealth Powers in the Australian Federation': lecture 7 drafts

Start Date
01 January 1966
End Date
31 December 1967
Notes
The National Library of Australia is using this item to test handwritten text recognition in Trove
Physical Context
MS 4936-Papers of Sir Robert Menzies/Class. Original Consignment/Series 6/File 416
View Finding Aid

Text

THE BANKING POWER  

WITH Some FINAL GENERAL OBSERVATIONS  

The Commonwealth Constitution, in Section 51, confers  

powers on the Parliament to make laws for the peace, order, and  

good government of the Commonwealth with respect to  

(xii) Currency, coinage, and  

legal tender.  

(xiii) Banking, other than State banking; also  

State banking extending beyond the limits  

of the State concerned, the incorporation of  

banks, and the issue of paper money.""  

The interesting thing about these powers is that  

while they are in some ways narrow, and in one way (the meaning  

of banking) somewhat vaguely defined, the Commonwealth has,  

under them and over lengthy period, been able to build up  

many  

relatively far-reaching and in most  

ways adequate system of  

monetary and exchange control. This, you may at once say,  

demonstrates not the growth of power, but the exercise of power.  

This is true enough. But the real significance of the matter  

appears when we add this measure of control over monetary matters  

to those other great developments under Section 96 and Uniform  

Taxation and the Financial Agreement which have endeavoured to  

explain in my earlier lectures. If we do this, we will see  

clearly the sources and nature of the Commonwealth’s paramountcy  

in the fields of revenue, capital provision, and (with some  

reservations) monetary and credit control.  

Trade and  

Commerce  

with other  

covatives, and  

anon the  

Hates  

The exercise of these  

powers asmay  

by the  

be aspecte  

Financial  

Agreement  

under lect  

105 A, and  

is susped  

to section  

99 sat  

quar  

to the  

freedom  

Inter state  

trade.  

Ada7  

Cite

Citation options:
Work identifier

http://nla.gov.au/nla.obj-2862192255

Download

Select the images you want to download, or the whole document.

This image belongs in a collection. Go up a level to see more.

Available formats
TIF high resolution
Include

A range of images:

Notes:
Only images within this set will be downloaded.
Some images in your selection may not be available to download.
Your download size will increase as you select more images.

Order

You can order a copy of this work from Copies Direct.

Copies Direct supplies reproductions of collection material for a fee. This service is offered by the National Library of Australia

Share

Share on Twitter

Share on Facebook

What can I do with this?

Unknown

Copyright status could not be determined due to data in the record being incomplete or inaccurate.

For more information please see: how copyright status is determined.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Article
Share Close

Copy and paste one of these options to share this book elsewhere.

NOTE: We've tested EMBED on blogspot.com blogs as well as self-hosted Wordpress blogs. This feature will NOT work on wordpress.com blogs.

About this book Close