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Ellesmere Guardian, Volume LIV, Issue 21, 17 March 1933, Page 6

By the reduction of the bank overdraft rate to five per cent, this charge has been brought back to the level of that ruling in New Zealand thirty years ago. In those days the rate was fairly constant and ranged about a half per cent, above the firstclass mortgage rate. The nation was then entering upon what proved to be an unparalleled period of prosperity. There was not the population in the country that there is now and the demand fcr money was not so great. Up to 1920 there were few variations in the rate, the period was not a difficult one financially and reliable values could be placed upon securities. The last decade, however, has been one of many financial disturbances which are reflected in the fluctuations of the bank rat« ~>- _ alterations having been made in 12 years. During the war the rate was maintained at 5_ per cent, but afterwards