Journal of the Department of Agriculture, Western Australia, Series 4


Banks, Financial institutions, Australia

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The well-publicised 'Campbell Committee' was set up by the Federal Government to inquire into the efficiency of the operation of the Australian financial system. The last such inquiry was conducted in 1936 when the Federal Government appointed a Royal Commission on Money and Banking. The Committee comprised four private sector persons experienced in finance, plus one Reserve Bank officer. Its Chairman was Mr Keith Campbell, Chairman of Hooker Corporation Ltd. The inquiry's terms of reference required the Committee to look at the structure and methods of operation of Australia's banking system, non-bank financial intermediaries, the money market, the securities industry, the Reserve Bank and other financial institutions. Also the Committee was asked to evaluate the form and extent of Government regulation and control of the financial system. Borrowed finance has always played an important part in farming, but more so in recent years. Consequently the recommendations of the Campbell Committee which impinge directly on the financial system will be of importance and interest to farmers. It is this consideration that motivated the following comments on the Campbell Report *from the Marketing and Economics Branch.