THE BANK RETURNS.

Wairarapa Daily Times, Volume 5, Issue 1325, 12 March 1883, Page 2

THE BANK RETURNS.

The Banking returns, savs an; Exchange, tell a strong tole in favor of the bankers. It has been freely said, that the bankers are squeezing their! New Zealand customers in order to find money for, Australian speculators. The returns for 1882 show that the deposits, of the public and the Government in our banks on Dec. 31 were less; than on the same day of the previous 1 year by ,£616,790, while the advances; on the first named day were as much as £2,224,426, in excess of the amount; out on the second. As the coin is less by 0n1y£79,841, and the circulation is ; greater by not more it is cleat' that New Zealand.is not being; squeezed for the benefit of Australia, There is a bank press'.ire, however, as: everybody knows, which must be; accounted for The import returns; are said to tell us that it is not on account of over-trading. But that over-trading has something to do with; the matter is evident to those who know how goods are forced by commission sellers upon all and sundry, many of whom are quite unable to ( pay when the day of reckoning arrives. 1 Th? chief pressure, however, comes (well informed people say) from the fact that the bulk of the extra advances has been locked up in the land; the Banks having, in fact, added the business of Loan Companies which seek; permanent investments to the business; of banking—which is essentially a; business of short dates—are embarrassed.: When there country customerswant help for. their harvest and their shearing, help which it; is imperative: they should have; they are bound to put tlie screw oh the tradingcommunity' of the towns, This pressure the abundant harvest now rolling, in will soon 1 make a thing of the past ;• worse, how-; however than a bad dream, for bad; dreams leave no trace behind, while seasons of commercial pressure are known by the wrecks of .valuable, commercial'enterprises.-.