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'Hansard' Pickings.

THE WEALTH OF ENGLAND. It is an absurd "fad" to suppose that England is such a wonderfully wealthy country. According to Mnlhall all the coin in the United Kingdom only amounts to £.bout L 50,000,000, or a little over VI per head of the population. In New Zealand the gold in the hands of the banks amounts to about two and a quarter millions, or nearly L 4 per head of the population, not counting coin in the hands of the people. Therefore in New Zealand we have probably twice as much coin per of population as they bave in England.—(lbid.) .SLAVES OF THK BANKS. Again, I wish to point out that, while the wealth of the colony is estimated at L1'27,000,000, the nominal capital of the banks only jmounts to about L 6,000,000. Therefore to say that they are masters of the situation and that we are only their slaves is absurd. Sir Julius Vogel used to be fond of the quotation " If the tail were the strongest the tail would waggle the dog." It is our fault if we allow the banks to waggle us.—(lbid.)

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https://paperspast.natlib.govt.nz/newspapers/ESD18890718.2.28

Bibliographic details

'Hansard' Pickings., Issue 7962, 18 July 1889

Word Count
189

'Hansard' Pickings. Issue 7962, 18 July 1889

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