Part one of term paper
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 re ...

Part two of term paper
... adequately handle the Great Depression. The Federal Government's influence over monetary policy exemplifies this. Although the Federal Government and the Commonwealth Bank were the official monetary authorities, they had little direct influence on monetary policy. Monetary policy was controlled by private banks, and so monetary policy reflected their market response to economic circumstances. Banks determined short-term interest rates through their competition for deposits and were key planners ...