THE TRADE OUTLOOK.

Gisborne Times, Volume XXVI, Issue 2236, 31 October 1908, Page 2

THE TRADE OUTLOOK.

POTENT BANKING FIGURES

[Special to “Times.”]

WELLINGTON, Oct. 30.

The New Zealand “Trade Review” has an interesting article on the banking returns and the trade outlook.

In regard to llie banks it points out that for the year ending on the 30th September, the advances of the banks had increased by £2,719,776, while private deposits 'had decreased by £1,344,995, and Government deposits by £887,193, a total change of £4,951,983, while even in the savings bank withdrawals showed, for the first time in many years, <a slight excess over deposits. On the other hand, the comparison of imports and exports with those of the preceding twelve months exhibit an unfavorable change eqjtal to £5,200,000. The relation of these sets of facts to each other in the nature of cause and effect cannot be questioned. The movements in> the transactions of the Post Office (Savings Bank are,” says the “Review,” “especially interesting. They show that in spite of an increase of £620,000 in deposits in the last twelve months, the excess of deposits over withdrawals is smaller by £750,000.- These facts appear to corroborate the theory that the (Savings Bank is being utilised by a class of depositors for whom it was not intended and that large sums have been deposited which are no\y being withdrawn under the attraction of the high rates obtainable for loans on excellent security. This exemplifies the inconvenience of this class of business for a savings bank.” As to the volume of imports, the “Review” says: “We are sorry to see no sign of diminuatio.n . On the other hand, the realisation of the output of butter and cheese, as it comes forward, is giving some ease in. country districts, which permeats thence throughout the Dominion. TRADE STATISTICS. The official returns of imports and exports, excluding specie and customs revenue, for the September quarter of 1907 'and 1908, show the following figures: —Exports, quarter 1907, £3,248,127 ; quarter 1908, £2,873,125; decrease £375,002. Imports: Quarter 1908, £4,936,047; quarter 1907, £4,669,848; increase £266,199. Customs: quarter 1907,. £867,842; quarter 1908, £818,742; decrease £49,100. The “Review” expresses disappointment that there has not .been a reduction in .imports. For some time past it has been contending that we are over-importing and it says the decrease will have to com© sooner or later. The customs decline is accounted for by the tariff revisions. A table is published giving the imports and exports for the last three years and attention is l drawn; to the fact that in that imports show for the year an increase of £1,679,000 and exports a decrease of £3,521,000, a total difference of £5,200,000, and it is to he feared that the results are even worse than this, as much of the wool exported is certainly, over-valu-ed. A year (ago exports exceeded imports by £3,820,000. This year it is imports that are in excess by ■£!.,- 380,000. A few days ago I gave you the gazetted; figures showing the movement in savings hank deposits and withdrawals for the last quarter, as compared with the-same quarter of the preceding year. The “Review” now shows that in 1906-7 the deposits exceeded Withdrawals by £1,291,507. In 1907r8 the excess for the year fell to £541,581, a remarkable declining.