Responses by Australian governments to the Great Depression were largely inadequate; however, it is necessary to identify the sources of these inadequacies. Attempts made by the Scullin Government to implement effective policy responses to the problems of the Great Depression were significantly impaired by a number of factors; consequently relevant policies are analysed separately. Among the impediments were a lack of support from London, New York and Australian Bankers, conflict with the Commonwealth Bank, large opposition in the Senate and limited spending powers. All of these factors meant that Australian Governments did not have the statutory or political power to adequately handle the Great Depression. The Federal Government's influence over monetary policy exemplifies this. Although the Federal Government and the Commonwealth Bank ....

Number Of Pages: 10

Number Of Words: 2544

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