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AUCKLAND VERSUS MELBOURNE

" Herald."

In connection with the exodus of * portion of the industrial class to Australia jast now, under the stimulus of oheap fares, it is interesting to note further the) Savings Bank statistic* of Auokland and Melbourne, to which we referred a few days ago. There were f>r July 257 new accounts opened m the Auokland Savings Bank, but It was alleged by a corrospon* dent that per pie were putting their money In the Savings Bank m their own and tbeir children's names "up to the hilt " (the £200 limit for eaoh person) as they wnuld not invest it otherwise. Of the 257 new depositors six were minors, wbioh gives about the 42nd part of a child to the remaining depositors. But tnrnlng to the statistics of the Savings Bank foe July, what are tho facts as to the amounts deposited ? No less a sum th»n £26,110---163 Id was deposited In July m 3459 deposits, of which over £22 000 were m sums from £1 to £100, and that only 31 depositors were over £100, totalling £3853 13s Id. The gross sum was paid m as follows :— 1279 depositß of £1 and under, making op £971 4s lid ; 667 between £1 and' £2, to £1082 Is 2d ; 760 between £2 and £5, to £27fS lis Id; 339 between £5 and £10» to £2987 19s 6d ; 250 between £10 and £20, to £3892 6s Id ; 126 between £20 and £40, to £3448 12s lOd ; 62 between £40 and £60, to £3207 13s 83 ; 35 between £60 and £80, to £2446 13a 9d ; 20 between £80 aud £100, to £1392; 31 upwards of £100, to £3853 13s Id ; total, 3459 deposits; amounting to £26,110 16i Id. Now, contrasting the Saving Banks statistics of Auokland and Melbourne for the year— a year of 'boom' for Melbourne and depression for Auokland—how do matters stand, taking tha population of Auckland 62 000, and Mcl: bourne at 460 000. Comparing the amounts at credit of the depositors at the olose of the last financial year Iv the Auckland Savings Bank with tha Mcl bourne Savings Bank's deposits the rate of savings per head of the population of Auokland is £7 12 , as against £4 7a 64 per head m Melbonrne. In the ratio of population In every point Auckland contrasts favorably whether as regards transactions, aooountß, and number of ieposltors. It may be stated furhec that In Melbourne deposits are take.ii up to £1000 aud Interest allowed t_j, to £250, whiob facilities and inducements natnsally tend to swell the deonsbs

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AUCKLAND VERSUS MELBOURNE Ashburton Guardian, Volume VII, Issue 2209, 26 August 1889

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