THE BANKING CONFERENCE.

Wairarapa Daily Times, Volume XVI, Issue 5063, 28 June 1895, Page 2

THE BANKING CONFERENCE.

Rariml June 28,10.15 a.m. MuLiiOimxK, June 28. At the Banking Conference, Mr Turner, the general manager of the Commercial Bank of Australasia, stated that the Banks reaped no profit from the note circulation, since tho note tax was introduced. He believed the Banks were willing to surrender the privilege, but they must have a note currency of some kind, and ho thought the issue of a State note would be satisfactory to the public, but a- disappointment to the Government, because the highest point the Victorian note issue ever reached was £1,400,000, and only averaged £1,200,000. At tho present time his Bank made no profit from tho current account credit balances, because the whole amount was held incoin.BaDksgenerally were adopting the view that thoy must enlarge their capital with the growth of business, and a safe rule to lay down was that the deposits should not exceed double the amount of the Bank's capital. He set down the amount of gold held by the Banks at about eight-million stcrling.which he considered was sufficient for the business of tho country, and (lid not think that the English system of restricting business to what was called liquid assois suitable for the Colonies. He advocated that they should do land mortgage as well as regular commercial business, as all the Bunks had mado considerable advances on land, and the money, in many cases, was practically locked up. Fully eighty per cent, of the agricultural holdings were mortgaged, and the great bulk for as much as they could carry,