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Hokitika Guardian, 2 January 1926, Page 2

The annual international banking review of “The Statist” deals succinctly with the whole range of hanking business overseas in 2f>9 pages. Special articles deal with “the effects of the return to gold in South Africa.” “Export of Capital.” “Banking in Australia and New Zealand and Continental Banking.” Analyses of overseas hanks’ balance-sheets and brief histories of the institutions are furnished, and there are valuable tables showing fluctuations in foreign exchanges. Curilouslv enough, the article on “Banking in New Zealand” states that flic Commonwealth Bank of Australia anil the National Bank of Australasia take deposits in New Zealand. This is evidently a slip of the pen. the Commercial Bank of Australia and the Bank of Australasia being intended. It is remarked that the note issue of New Zealand has been considerably below that allowed by law. with the result that the Dominion has been entirely free from the enrrenev stringency experienced by Australia, the hanks being in a position to meet rendily nnv increased demand for notes. It is remarkable, indeed, that New Zealand, which has no centralised control of currency or credit, and no central hank, has find to contend with less formidable currency and exchange problems than Australia with her unified control of the note issue.”