PLACE OF NEW ZEALAND

Evening Post, Volume CIX, Issue 112, 14 May 1930, Page 14

PLACE OF NEW ZEALAND

IN INTERNATIONAL BANKING

Sir George Elliot, chairman of the Bank of New Zealand, is a contributor to the International Banking Supplement of the "Financial Times." His remarks generally follow closely on the lines of his speech at the last annual meeting held in Wellington, but in addition contains information relating to the primary industries of the Dominion, the state of the local money market, and a regret that "farming is not developing at the rate one would expect or desire, immigration consequently being seriously affected, and indeed discouraged." Sir George also, remarks on the essentially British outlook of New Zealanders^on life and in'their habits generally. The remarks were written before the depression in .Australia reached its present stage, and when the minimum rate of New' Zealand banks'for best advances was it G% per cent. As for the "Financial Times Review" considered as a whole', it makes special reference to the persistence of unemployment in the United Kingdom also to the fact that for all this, British savings, trade, and production exhibit continued progress. } The position'of each country is dealt with by distinguished bankers. There are analyses of foreign exchange for the year, a statistical record of banking results, as well as the varied articles. These include a review of "International Lending Since the War," by Mr. R. ,T. Barrett, editor of the "Financial Times"; "Central Banking Experiments in the British Empire"; "The Constitution and Scope.of the Bank for International Settlements"; "Bankers and the Law"; "The Banking Year, Steps :to Advance Industry"; "The Year in' Australia, Stringency of Money and Tariff Duties"; "Canada and South Africa"; and other articles treating every country in the world. Of special interest are the articles on. Spain before the Dictatorship, "Economics of the Soviet Republic," Italy's new era, and the Near East. There is also a review of German problems, with reference to obligations and the import of capital. Articles are also written in French, Spanish, Italian, and German.