No. II. Assets.

New Zealander, Volume 7, Issue 511, 8 March 1851, Page 3

No. 11. Assets.

In our previous article we adverted to the large propoi-ium of Deposits held by the two English Banks, compared with the two strictly colonial institutions; but a correspondent has very properly reminded us of the fact, to which at the moment we did not advert, that tach of those Banks has provincial branch establishments, and that the returns include the Deposits held by the branches, as well as those held by the offices in Sydney. The branches of each are, we believe, four in number. We can only repeat what hat been so often said before, that tlieie ought to be a distinct return for every banking-house in the colony, as well as the consolidated Abitract which is now furnished.

Coin. The total amount of Coin held by (lie four Banks duriiii> the quarter ended 31st December, ISSO, compared with the amounts held in the previous quarter and Id the corresponding quarter of 1849, was as follows : —

The amounts of working capital employed in the colony by the respective Banks, as shown by the dif* ference between the aggregate of their Liabilities and that of their Assets, during the pait quarter, were about as follows :: — > Bank of New South Wales ..£11 2,600 Commercial Bank .a 112,000 Bank of Australasia ... „ 232,800 Union Bank 142,600 Total woikin? capital .. ...£600,000 With this £600,000 of working capital, the Bants bad transacted a discount business to the extent of .£1,666,300. The proportions which the dfacounti bore to each £100 of Working Capital were about as under: — Bank of New South Wales.. ..£220 11 Commercial Bank 212 2 Bank of Australasia .. .. 249 17 Union Bank 419 18 The amount of Coin held, in proportion to each £100 of Circulation and Deposits, were as followt :— Bank of New South Wales . . . . £41 6 Commercial Bank 36 12 Bank ol Australasia .. ... .. 37 17 Union Bank 35 3 Total £37 3 The i table position which tlieie last figures exhibit, showing as they do that the Coiu aveiages more than one-tlmdol the joint amount of circulation and de~ posits, will be the better appreciated when we mention, that, according to the returns published in the London Gazette oi August last, the coin held by the Scotch Banks averaged only about one-fourth, and by the liibh Banks only about one-third, of the circulation alone.

Puns. — I have mentioned puns. They are I believe, what I have denominated them — the wit of words. They are exactly the same to words which wit is to ideas, and consist in the sudden discovery of relations in language. A pun, to he perfect in its kind, should contain two distinct meanings : the one common and obvious, the other more remote; and in the notice which the mind takes ot the relation between these two sets of words, and in the surprise which that rejatiou excites, the pleasure of a pun consuts. Miss Hamilton, in her book on Education, mentions the instance of a boy so veiy neglectful that he could never be brought to read the word patriarchs ; but whenever he met with it he always pronounced it partridges. A friend of the writer observed to her that it could hardly be considered as a mere piece of negligence, for'it appeared to him that the boy,ia calling them partridges, wa» making game of the patriarchs. Now here are two distinct meanings contained in the same phrase : for lomake game of the patriarchs is to laugh at them ; or to make game of them is, by a very extravagant and laughable sort of ignorance of words, to ra^k them among pheasants, paitndges, and other such delicacies, which the law takes under its protection, and calls game', and the whole pleasure del ived from ihio pun consists in the sudden discovery that two such <lifferetit meanings aie refeianle to one form ofexpicssion. I have veiy little to say about puu« ; they are in very bad tejiute, and mi they ought to be. Th« wit of language is so miserab'y inferior to the wit of ideas, that Jt is very deservedly driven ottt of good company..— Rev. Sydney Smith,

Bee. 1849. Sept. 1850. £595,000 £584,800 [ncrease in the year ..i?61,000 Ditto in the quarter .. 71,200 Dec. 1850. £656,000 Per cent, .. 10-3 .. 122

In the year, the amount of Coin has decreased in the Colonial Banks, and increased in the others.

Decrease in the year. Per cent. few South Wales ..,£15,700 2-3 lomtnercial ... „ 2,600 , 3-0 Increase in the Year. .uitralnsia .. ..£60,700 39-4 Fnion 18,700 8-3

In the quarter, the Coin has increased in all the Banks.

Increase in tbe Quarter. Per cent. lew South Wales „.£ 9,500 93 lommercial 5,600 % 7*l .ustralasia .. .. 21,300 11*0 rnion .. „ .. 34,900 16-6

In the year, the amount of Bills under Discount hat increased in all the Banks excel t that of Australasia.

Discounts. The amounts of " Notes and Bills Discounted, and all other Debts due to the Binks," were as under:—

Dec. 1849. Sept. 1850. 51,695,800 £1,583,200 )ecreaie in the year . . £29,500 ricreas? in the quarter 83,100 Dec. 1850. £1,666,300 Per ceni » 17 > 5-2

Increase in the Year. Per cent. Jew South Wales ..£ 7,200 3'o touamercial .. „ 43,300 223 Tnion 59,800 ll'l Decrease in the Year, .uslralasia £139.400 ...... 19 3

During ihe quaver, the Discounts divr increased in all the Banks except that of New South Wales.

Increase in the Quarter. Per cent. locomercial .. ..£21,700 10-0 uitraldsja .. .. 11,500 2*o r nion 59,300 ll'O Decrease in the Quarter. Few South Wales .. £9AOO 36