BANKERS' CONFERENCE.
Remml, June 25,11 a.m. ; Melbourne, Juno 25. An tho outcome of tho recont Bankers' Conference, it is expected a Bill will he drafted, principally to deal with the note issuo. Tho existing issue by the Banks to be given up, and a Government noto issued, to be controlled by a commission partly nominated by the Government and partly by the Banks. The Banks are to provide coin against tho issue, of which 70 percent, is to be invested in Colonial 4 per cent, stocks, aud 30 percent, toberotainediiigold, The isfio is to be allocated to the Banks in proportion to their existing issues and deposit liabilities; the notes to he legal tender, exchangeable for gold at the chiof offices of the Banks, An emergency issue is allowable on the deposit of 20 per cent, of coin and 80 per cent, of approvod Gnronmentiiourities. The profits derived from the invostmeits in stocks, after deducting the expenses of management, to bo divided ! equally betweon tho Banks and the ! Government. t
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WDT18950625.2.11
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Daily Times, Volume XVI, Issue 5060, 25 June 1895, Page 2
Word count
Tapeke kupu
170BANKERS' CONFERENCE. Wairarapa Daily Times, Volume XVI, Issue 5060, 25 June 1895, Page 2
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in