STRONG FINANCE.

Taranaki Daily News, 18 October 1915, Page 8

STRONG FINANCE.

TEE SAVINGS BANK RETURNS. A HIGHLY SATISFACTORY POSITION REVEALED. Wellington, Thursday, Tlie returns showing the volume of business done by the Post Office Savings Bank during the month of September reveal a highly satisfactory position. The figures for tlie month are as follow: With- Excess Deposits, drawals. D'p'sits. Period. £ £ £ 1-15 Sept, .. 560,485 553,031 13,453 6-23 Sept. .. 240,860 221,002 19,858 24-30 Sept. .. 317,313 179,032 138,180 Totals .. 1,124,659 953,060 171,492 For the corresponding month of last year the total figures were: —Deposits, £837,818; withdrawals, £734,358; excess of deposits, £103,460. - Mentioning these figures to a New Zealand Times reporter, the PostmasterGeneral (Right Hon. Sir Joseph Ward) said that the situation disclosed by the returns was a very gratifying one. It was quite evident that the people of the country had money to place on deposit, and that they had confidence in the general state of affairs in the Dominion. In commenting upon the position ol the money market, the Trade Review shows that the excess of deposits in the hands of the banks at the end of September was an increase of £594,445 on the previous quarter, and practically eleven times what it was a year ago. .'This is, of course, the result of the , splendid returns received for our exports, coupled with somewhat reduced importations" (says the Review), "and it gives the banks an ample supply of funds' to meet any calls that may be made on them. The £2,000,000 Government loan about to be rai 1 locally will absorb a fair amount of these funds, and ordinary business requirements will utilise some also, but it would appear that there would ibe ample margin to work on. Our export season which is just starting gives promise of excellent returns, owing to the high prices that our principal products command, and it appears very unlikely that importations will he very heavy for a time, so that the balance of trade will apparently continue well in our favor for some time to come, and thus keep up a good supply of money generally."