H.—44.

Imports from all British countries declined by £3,507,848 in 1930 as compared with 1929, and imports from foreign sources by £2,264,215. Imports from British countries in 1930 represented 68-8 per cent, of total imports as compared with 67-8 per cent, in 1929, while imports from foreign sources represented 31-2 per cent, and 32-2 per cent, in 1930 and 1929 respectively. In the table given below the percentages of total imports claimed by each of the principal countries trading with New Zealand are shown for the same four years.

Proportionate increases in imports from the United Kingdom and Australia and decreases in respect of the United States and Canada are the principal features exhibited by the above table. Banking Returns. The banking returns for the quarter ended 31st March reveal a position less favourable than at the corresponding date in any of the three previous years. In spite of this, however, they are not as unfavourable as they might be under the circumstances and probably would have been had the banks not taken timely steps to protect their resources as soon as the earlier effects of the depression began to make themselves felt. Deposits for the quarter ended 31st March, 1931, were £51,251,939, as compared with £54,003,241 for the corresponding quarter of 1930 —a reduction of £2,751,302. Advances, on the other hand, increased from £53,676,778 for the quarter ended 31st March, 1930, to £54,332,234 for the March quarter of the current year —an increase of £655,456. The net result for the quarter ended 31st March, 1931,. is consequently an excess of advances over deposits of £3,080,295. The relation of deposits to advances for the quarter ended 31st March in each of the last ten years is shown by the following table : —

The reduction of £2,751,302 in deposits comprised a decrease of £5,575,969 in free deposits, less an increase of £2,824,667 in fixed deposits. The continued increase in fixed deposits is shown in the following table : —

5

1927. 1928. 1929. 1930. 'II I Per Cent. Per Cent. Per Cent. Per Cent. United Kingdom .. .. •. 47-93 47-43 46-25 47-27 United States of America .. ■. 18-04 18-28 19-10 17-60 Australia .. .. .. • • 8-64 7-79 6-68 7-69 Canada 6-12 7-26 9-81 8-84 India and Ceylon .. .. .. 3-61 3-66 3-45 3-12 South African Union .. .. 0-27 0-23 0-21 0-21 Fiji .. .. .. .. 0-95 1-27 0-36 0-47 France .. • • * - • ■ 1-90 1-83 1-49 1-41 Germany .. .. . • • ■ 1-87 2-00 1-93 2-27 Japan .. .. .. • • 1-27 1-28 1-28 1-31 Dutch East Indies .. .. .. 1-89 2-23 2-36 1-88

Excess of Quarter ended 31st March, Deposits. Advances. Deposits. Advances. £ £ £ £ 1922 .. .. .. .. 40,360,390 46,491,316 .. 6,130,926 1923 .. .. .. .. 43,465,816 42,521,571 944,245 1924 .. .. .. .. 47,033,292 44,403,524 2,629,768 1925 .. .. .. .. 49,897,228 43,730,262 6,166,966 1926 .. .. .. .. 47,302,480 48,285,142 .. 982,662 1927 .. .. .. .. 4-5,528,812 50,800,808 .. 5,271,996 1928 .. .. .. .. 49,958,295 46,070,370 3,887,925 1929 .. .. .. .. 55,345,495 46,359,744 8,985,751 1930 .. .. .. .. 54,003,241 53,676,778 326,463 1931 .. .. .. 51,251,939 54,332,234 .. 3,080,295

Quarter ended 31st March, Free Deposits. Fixed Deposits. Total. £ £ £ 1926 .. ;. •• 26,865,851 20,436,629 47,302,480 1927 .. .. .. 24,440,778 21,088,034 45,528,812 1928 .. .. .. 24,482,151 25,476,144 49,958,295 1929 .. .. .. 25,736,743 29,608,752 55,345,495 1930 .. .. .. 23,905,822 30,097,419 54,003,241 1931 .. .. .. 18,329,853 32,922,086 51,251,939