WHAT A CITY TO SACK

Ashburton Guardian, Volume VII, Issue 1932, 31 August 1888, Page 3

WHAT A CITY TO SACK

c The Melbourne " Argos " m comment- I log on the banking returns, Bays : — "Tbe deposits at the commencement of 1880 contrast with the present returns as follows : — 1880, £50,875,000 j 1888, £99,724,000. The gain ln the eight years haa been nearly a double, and, aa tbe population has not doubled, the only inference is that of a large increase of wealth. The increase In deposits during the year preceding 1880 was £4,120,000, and It was spoken of aa i ' vast stride,' as undoubtedly It was ; but the present year's inorease of £8,781,000 is more than the donble. Eight years ago the banks had £10,500,000, m coin and bullion m their coffers, but to-day they bave £18,967,000 or 19 millions of gold m round figures ; and as nearly the whole of the heavy sum is lodged m the capitals, there Is no doubt that the ports ln question — for all our capitals are ports — do offer a great temptation to hostile expeditions seeking not only glory but loot, and ought to be protected m proportion to tbe risk. Perhaps there is a Blucher among us now, ejaculating m some language — not German presumably — "Main Gott, vot a oity for to saok 1" The banks have assets In the oolonios to the amonnt of £145,000,000, and before the year is nut the total will probably be £150,000.000. The enquirer may wonder at these figures, but he will understand how it Is that financial institutions play the large part they do, both In the life and the architecture of our Australian cities." a..— ■.———■i __■__________.