The Reconstructed Banks.
(Per Press Association;) Melbourne, January 12. The Age, in commenting on the Bank consolidation scheme, says :— " We are confronted with the fact that between tl:e years of 1897 and 1901, the Austra* lian Reconstructed Banks will have to meet the demand for the payment of deposit receipts to the extent of £44,000,---000, and this is a certainty which no amount of specious argument can get rid of. It is also equally certain the colonies are not likely to be prepared to meet such an enormous demand when it oc« curs ; if the new deposit could be expected to replace the withdrawal of the old, then it would be no difficulty. It concludes its comments that the London financial journals show clearly that such a happy solution of the difficulty is hardly likely to occur. They would, how* ever, have two or three years breathing time, and surely something would sug« gest itself prudent during that time* which would provide against trouble in the future.
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Bibliographic details
Feilding Star, Volume XVI, Issue 167, 14 January 1895, Page 2
Word Count
167The Reconstructed Banks. Feilding Star, Volume XVI, Issue 167, 14 January 1895, Page 2
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