 He was somewhat inexperienced with economic matters, and often turned to his friend and colleague Lyndhurst Giblin for advice; they eventually renewed their relationship at federal level during the 1930s.Less than a month after taking office, Lyons announced that the government was moving its accounts from the Commercial Bank of Tasmania to the Commonwealth Bank, which had only been established a few years earlier.In return he was able to secure a substantial loan and an overdraft of £100,000.