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Commonwealth Bank – The School Bank (1951)

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clip Borrowing and lending education content clip 2

This clip chosen to be G

Clip description

Mr Phillips takes the children down to the bank’s basement level vault, where the cash is stored. While they watch the money being counted, Mr Phillips explains how the banking system works.

Curator’s notes

This would have been a pretty exciting excursion for the children in the film. In pre-television days, the vault in the central branch of a major bank would seldom have been seen by members of the public, other than in cops 'n’ robbers flicks.

Mr Phillips gives a succinct explanation, illustrated by footage, of the place of the children’s savings within the banking system. He then goes on to describe the role of the banking system within the national economy. The Commonwealth Bank was fundamental to Australia’s postwar economic expansion. Legislation in 1945 had confirmed the central banking control of the CBA, and consolidated its role in regulating and maintaining the stability of the currency, the economy, employment and welfare. Influenced by Keynesian economic theory, the government of the day made special provision for the Commonwealth Bank to fund the development of housing and industry. In addition the CBA acted as the banker and financial agent for the Commonwealth Government. As the postwar population increased and spread throughout the country, hundreds of new Commonwealth Bank branches and agencies were established.

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australianscreen is produced by the National Film and Sound Archive. By using the website you agree to comply with the terms and conditions described elsewhere on this site. The NFSA may amend the 'Conditions of Use’ from time to time without notice.

All materials on the site, including but not limited to text, video clips, audio clips, designs, logos, illustrations and still images, are protected by the Copyright Laws of Australia and international conventions.

When you access australianscreen you agree that:

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  • You may download materials for your personal use or for non-commercial educational purposes, but you must not publish them elsewhere or redistribute clips in any way.
  • You may embed the clip for non-commercial educational purposes including for use on a school intranet site or a school resource catalogue.
  • The National Film and Sound Archive’s permission must be sought to amend any information in the materials, unless otherwise stated in notices throughout the Site.

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ANY UNAUTHORISED USE OF MATERIAL ON THIS SITE MAY RESULT IN CIVIL AND CRIMINAL LIABILITY.

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