The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. SATURDAY, JULY 14, 1894. A STATE BANK.

Feilding Star, Volume XVI, Issue 12, 14 July 1894, Page 2

The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. SATURDAY, JULY 14, 1894. A STATE BANK.

The removal to Wellington of the head-quarters of the Bank of New Zealand, together with that of the headoffice in the Colony of the National Bank, just about to be carried out, will bring the chief New Zealand offices of four of our banks to one city. It is also reported that the Bank of New South Wales has in contemplation a move in the same direction. It must obviously be of considerable convenience to the general management of the banks (says the N.Z. Trade Review) to be able to confer orally regarding matters of common interest instead of having to settle everything by correspondence. In another place our contemporary says : "We have now got what is really a State Bank, and we trust that as one of the results we shall hear no more of the proposal for an issue of irredeemable paper currency. The management of the new bank will be watched with interest, and we are bound to say that the management of the Government Life Insurance Department and of the office of the Public Trustee gives room to hope that the result will be better than the fears of many lead thera to anticipate. Although opinions differ as to the action of the Government in reference to the Bank of New Zealaud, there can be no doubt the position of the bank is now one of considerable strength. This fact, combined with the position of the reconstructed banks in Australia and the rehabilitation ot the New Zealand Loan and Mercantile Agency Cotnpan}', points to the near prospect of a plentiful supply of money available in these colonies. From the woful depression in the prices of our most important products, and from other causes, the Colony has passed through a time of severe trial during the twelvemonth ending with the 30th June last. On the whole, we consider that it has cotr,e out remarkably well, for though there has been a shower of small bankruptcies, the amounts involved have generally been inconsiderable. We think that ths present prospects are decidedly more hopeful, and, if only the Legislature will refrain from measures ot a harassing and disquieting character, the twelvemonths now begun bids fair to be a great improvement on its predecessor." _^________