The Hastings Standard PUBLISHED DAILY. THURSDAY, JUNE 4, 1896. THE MOVEMENT OF MONEY.

Hastings Standard, Issue 33, 4 June 1896, Page 2

The Hastings Standard PUBLISHED DAILY.

THURSDAY, JUNE 4, 1896. THE MOVEMENT OF MONEY.

For the cause that lacks assistance, For the wrongs that need resistance, For the future in the distance, And the trood that we can do.

The banking averages for the past quarter which are given in the Australasian Insurance ami Banking Record are instructive. We see at a glance the movement of money to the colonies where it can be best and most profitably utilised. The bank returns for the March quarter of 189G show as follows :

In New Zealand as -well as in Tasmania and South Australia, the depositors find the banks with all the trading money they require and a surplus of £4,760,256, which these institutions are abl« to lend in other

colonies. Four of the five banks trading in New Zealand have branches in other colonies, particularly in Victoria and New South Wales, where the outlet for investment appears greatest. Proportionately to its deposits, Queensland affords the largest field for the investment of capital using £1,520,000 or 40 per cent, more than is lodged by depositors; New South Wales 21 per cent, more than she receives, and Victoria 22 per cent. Three years years ago—that is for the March quarter of 1893—the figures were of a bulkier nature thus :

Comparing the two statements it will be seen that the deposits have shrunk 614,619,723, or about 13 per cent., and the advances have contracted to the extent of .1*23,68-4,378, equal to about 18 per cent. In the three years New Zealand lias repaid to the banks £2,250,611 without materially affecting the deposits which show a shrinkage of only £88,936. With two millions and a quarter withdrawn

from active occupation we cannot wonder that trade is dull. According to the last quarterly statement the total of deposits was in excess of the advances to the extent of £1,601,277, and this idle money may fairly be attributed to the influx of foreign capital for mining development. It is apparent that future business activity depends mainly upon the mining industry, which is being exploited by experts. When the money now lyingidle is spent in development works, the whole colon_y will feel its fertilising effects, and if wool maintains its price and frozen meat advances our farmers should be in a position to spend money in improvements which find labor for our agricultural hands.

— Deposits. Advances. Excess of Deposits. Excess of Advances. Now South Wales... Victoria ... Queensland Now Zealand Sou tli Australia ... Tasmania £ " DO,08:5,545 81,183,088 11,109,315 14,-162, 000 ' 7,110.567 3,115,088 £ 37,906,901 88,197,785 15,029,894 12,797,729 4.7:59,991 2,290,450 £ 1,664,277 '2,870,646 825,388 .£ 7,328,356 7,064,062 4,529,579 97,514,804 111,562,634 14,047, S3 1 . .. _

— Deposits. Advances, £ 42,577,267 49.998,827 17,391,172 15,048,340 7,068,076 3,163,330 Excess of Deposits. 581,642 637,419 Excess of Advances. £ 6,582.914 10,619.589 6.631.645 497,398 New South Wales... Victoria ... Queensland New Zealand South Australia ... Tasmania £ 35,994, 353 39.379,238 10,759,527 14,550,942 7.649.718 3,800,749 112,134,527 135,247,012 ... 23,112,485