The Feilding Star. THURSDAY, MARCH 9, 1893. The State of Trade

Feilding Star, Volume XIV, Issue 111, 9 March 1893, Page 2

The Feilding Star. THURSDAY, MARCH 9, 1893. The State of Trade

The report of the state of trade and commerce, contained in the speech delivered by t?ie President of the Wellington Chamber of Commerce :i few days ago, is undoubtedly the most exhaustive and able ever made before any similar body in the colony. We understand it is to be p -in ted uncl circulated, and we feel assured that when it is read in England, and the sister colonies, it will prove incontestibly that this, the land of our adoption, is one of the most prosperous in the whole world. We have not space to enlarge upon the speech as a whole, but select that portion referring to bank returns and commerce, for which we acknowledge our indebtedness to the Wellington Press : "Mr Gale said statistics had been quoted in a variety of ways to demonstrate the improvement that had taken place in New Zealand within the last few years. He did not think ho had seen any figures illustrating this fact more forcibly than the banking returns of the colony for the years from 1883 to 1892. The figures here quoted by the President were as follows : — twelve Dec months' qtr Fived Free Interest Totals ISB3 fs.iß-,iio £3,148,087 6 £5,3.>5,i<j7 -4 11,043,957 3,3.18,048 5 9.372,005 5 0,360,882 3,i-o,')fK) 5 9,631,851 -0 7,156,528 2,824,817 6 9.081,345 -7 7,364,286 3,273,902 4< io,(ij!f, ISB -8 7,312.153 3.261, 387 5 ">,57j.5-»° -') 7.'J55-7y3 3.162,363 5 v, 118,156 -90 8,491,712 3,3^9.871 4$ 11,824,583 -111 8.874,920 3,324.812 5" 12.199.732 -92 9,782,904 3,673.132 5 13.456,036 Mr Gale explained that tho figures quoted were exclusivo of the Government account, and represented simply the doposits of the community. The aggregate of ordinary credit balance was maintained at a fairly steady level, though there was un increase of half a million between 1883 and 1892. The fixed deposits, however, which might be taken generally to ropresent accumulations, had increased by four and a half millions, or an average of £-150.000 a year. The offoct of this upon the banking community had been that whereas iv tho December quarter of 1882 the bank advances exceeded tho deposits by £7,007,027, in the Docember quartor 1592 the deposits had exceeded all the advances by £778,537. In tho former period they wore heavily depondont upon thoir bankers but by the latest return tho wholo accomodation granted by the banks whether in tho shape of discounts or of { advances in any other form, was provided out of the deposits of the community, leaving a surplus of £778, b'6" m tho hands of tbo banks. This result had— it appeared to tho J'residont — been brought about by a double process, yiz., : by re duoiiig their expenditure and lucrecsin™ tlieii -production. For instance ho found that for the h'vo years im media to Jy preceding 1883, that is IS7B to ISB2 thoir 1 total impoita andexpoits wore: — Imports I £39,338,575, exports, A30,800 ) .'W2, showing ni\ ovcess of import* over exports of £8,r>28,182. It ivus impossible to ignoro tho fact that at liui jiark)d in rjucatic v I>au moiioy bad be«'ii coining fra^Jy into tho country winch largulv accounted ioe tbo uxcesrfi ve imports. Yet tho facts wero, as I ho stated, aud lh<>y kuow that an abundance of borrowed money and excessive imports tended to extravagant aud reck less expenditure- In tho years ISBB to 1892 on tho other hand, tho proportion between our total imports aud total exports wero; exports, £46,024,206, imports, £31,957,205, tho excess of imports being £14,067,000— th0 contrast was a.orv striking. Tho bank roturus quoted wore exclusive of Government Sayings Banks which showed an equally satisfactory rosult, tho figures being : deposits in 1883, £1,409,752, ditto in 1892, £-2,863.670,---or an excess of deposjt* ;n ten years of £1,453,918 — more than doubla. A morn convincing proof of tlte ttn;u;_cial stability of this colony could not be given. We do not believe that there is another case on record where tlie bank deposits have exceeded the advances made by the banks to the public in a commercial country. We have spfteiffdij' selected this part of the speech because the figures given contain internal evident of prosperity in every branch of industry followed jn New Zealand. 'J he effect .should be tin 1 encouragement of tha spirit of enterprise to even greater exertions. There arc five millions of money ]yin<r comparatively speaking, idle. Tc/this sum may be added tin- paid up capital of the sevrral banks which, iv consequence of the pressure from fixed dejxjsits, must necessarily be Iving dor dormant or, if utilised ;it all, must be employed j.n Ivi)g/-!IJ(1 or tin- Australian colonies, by wbk-1* ilii,. colony I.'luluU little or nothing.

We learn from the Manawatu Daily Times that in consequence of the serious results of the recent accident at Woodville caused by a cart driven without lights, the luspector of byelaws for the Manawatu Road Board informs the Times that he intends to take proceedings against anyone transgressing the law. This good example might well be followed by the Manchester and Kiwitea Road Boards, also the Feilding Borough Council, j Although attention has been called by us time after time to the reprehensible custom which obtains so much of driving vehicles without lighted lamps in the night time, nothing has been done to punish tho offenders Certainly there have been no very serious accidents as yet to chronicle, but with the rapidly increasing population of the district and town, the liability of collision from this neglect increases in proportion. We trust j the Mnyor will take the initiative in the matter, and draw the attention of the constable to this growing evil, so that before the winter sets in owners of vehicles driving on the Borough roads may bo made to see the wisdom of providing themselves with the required lamps^