The Manawatu Standard PUBLISHED DAILY.) Suivant la verite. MONDAY, APRIL 2, 1883. BANK PRESSURE.

Manawatu Standard, Volume 4, Issue 97, 2 April 1883, Page 2

Manawatu Standard PUBLISHED DAILY.) Suivant la verite. MONDAY, APRIL 2, 1883. BANK PRESSURE.

So much has late'y been heard of th« I pressure put on the commercial ' community by the banks, that some remarks of the «»x-Ch airman of the Wellington Chamber of Commerce on this subject at the annual meeting \\ are well, worth quoting. Adverting to the bankingreturns of the 30th December last, Mr Geouge said they found that the advances still showed an increase on the September quarter, the advances being for New Zealand, £15,513,000, as against £15,057,000 m September. The deposits, on the other side, showed a diminution of £585,000, the excess of advances over deposits being £6.268,000. The advances by the banks were larger by about £250,000 than at any period m the history of the colony. After referring to the 1 imports and exports, Mr George went on to say that accounts generally pointed to the conclusion that a return above the average on the grain harvest might be expected, and this being the case it was not necessarily a subject of apprehension that the imports should be heavy and the stocks large. With the increase of population and the opening up of land, imports must and should increase, and only caution was necessary to make certain that the requirements for these purposes were not pushed beyond a safe limit, thus causing excessive stocks and unremtinerative prices. At present it seemed that the bank pressure arose from the merchants having unduly forced trade, and that land fcr agricultural or pastoral purposes was steadily rising m value.