THE BANK RETURNS.

Hastings Standard, Issue 9, 6 May 1896, Page 2

THE BANK RETURNS.

The bank returns for the first quarter of the year, published in last week's Gazette, disclose a condition of trade which may be described as extremely sluggish. The overdraft and discount business of the monetary institutions suggest that either the people have learned to rely less on the banks than formerly or that trade is bad. The latter, we think, is the correct interpretation, for the cry of the unemployed and the activity of the Charitable Aid Board indicate the nature of trade.

The shrinkage in the discount business of the Banks may be readily seen from the following table : March 81, 1892 ... £2,875,844 March 31, 1893 ... 2,297,954 March 31, 1894 ... 2,196,503 March 31, 189-5 ... 1,867,493 March 31, 1896 ... 1,738,258 Taking the extreme periods there is shown a shrinkage of £637,586. "With regard to the overdrafts there has been a decrease in the amount of Bank advances compared with the December quarter of no less than £745,159 ; but this is probably due to the repayment by producers of temporary advances made during harvest and shearing time. Compared with previous y&rs the Banks hav e

been called upon to advance less, that is to say either the public required less or the securities upon which advances could be made were available. The following figures show the falling off of the amount of overdrafts : March 31, 1892 ...£9,275,104 March 31, 1893 ...10,408,628 March 81, 1894 ... 10,032,396 March 31, 1895 ... 9,644,104 March 31, 1896 ... 9,065,538