BANKS AND CREDIT.
Will the following .satisfy "Croesus" regarding banks issuing credit without having first received from the public the funds which they lend? It is reported in the Melbourne "Sun." Sir James Elder, chairman,of directors, National Bank of Australasia, addressing the. annual meeting of shareholders, said: "In 1929 the ratio of advances to deposits was 87 per cent; in 1932 the ratio was 8(5 per cent. If advances to Governments are included the ratios are increased to 9(5 per cent in 1929, and to 103 per cent in 1932 respectively." iv.w.
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Auckland Star, Volume LXIV, Issue 204, 30 August 1933, Page 6
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92BANKS AND CREDIT. Auckland Star, Volume LXIV, Issue 204, 30 August 1933, Page 6
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