WEALTH OF NEW ZEALANDERS.

Dunstan Times, Issue 638, 10 July 1874, Page 3

WEALTH OF NEW ZEALANDERS.

The Bank returns for the quarter ending ■the .‘list of "March last are published in the New A ‘aland Gazette issued on the 21st of May. The returns disclose, in some respects, a very satisfactory state of things as regards the capital in the Colony. The deposits are continually increasing. At the end of March quarter, the total amount of deposit in the five Banks doing business in tlio Colony was 5,309,085/. 9s. 5d.,0f which 2,725-713/. 10s. Gd. was in credit balances of accounts “not bearing interest." This shows '.that there is a large amount of money in the Colony ready at any moment for being employed for any industrial or speculative enterprise that may hold out sufficient inducements for its possessors to engage in. This largo aggregate of credit balance also tells of the existence of a very high rate of interest being generally prevalent in the Colony. The Banks give 5 ,uer cent, per annum for fixed deposits for twelve mouths ; and yet, in the face of such inducement, we find that nearly three ..lillion sterling are lying in the Banks, not hearing interest, ready for any sudden emergency or favorable speculation, while only sums aggregating to 1,431,225/. 10s. Id. arc deposited at interest for various periods. Together—that is the sums deposited’at interest, and aggregate amount not bearing interest—reach no less a sum than 4,157,008/, 12s. 7d., a sum \\hieh will g’vo an average of almost 14/. per man, woman, and child of the European population. If to this amount be added the cash balances to tbe credit of the people in the various Savings’ Banks m the Colony, it is probable that an addition of at least 4/- per head would have to be. -made to the above amount, thus making an aggregate of banked surplus moneys averaging about IS/, per head of tbe whole white population. A hen to this is added the value of the property possessed by tire people in the Colony in houses, lands, cattle, sheep, horses, stocks, ships, Ac., a total aggregate °t wealth will be made up which will give such an average per head of the population as wifi make New Zealand compare very favorably with any other country, either young or old. New Zealand colonists have no reason to he dissatisfied with a country cr pab!e of yielding such satisfactory results, and it -a little more energy were thrown into some industries, results still wore encouraging might be obtained. AVilh temperance and (industry on the part of the people, -a degree of comfort and comparative affluence can bo secured bore "Inch the inhabitant a of less favored countries strive for in vain.—Southern Cross.