VICTORIA.

Hawke's Bay Herald, Volume XXX, Issue 10058, 27 July 1895, Page 2

VICTORIA.

I and afterwards extended to carrying on the credit fonder Byslem. This would greatly assist the landholders and Increase the productiveness ol the land. He believed that bad a Btate BaDk been in operation the late banking oriels would to a large extent have been moderated.

Melbourne, Friday. The Supreme Court has granted an order extending the time fot holding the statutory meeting of the City of Melboutue Bank from July 30th to August Bth. The financial statement of the Viotoiian Racing Club shows that the overdraf a wbb reduced daring the year by £3200, and it U hoped to save £7000 the ensuing year. Tue liabilities are sec down at £31,000. The Imperial Colonial Defence Committee, at the request of the Victorian military authorities, h&va forwarded their report, adopted last year, dealiDg with the floating defences and fortified porta of the colonies. It states that as long as the fixed defences remained ibomplete the floating defences helped to give security. The gap, however, no longer exists, and fa no loDger needed. In some cases it cannot be employed without seriously interfering with the efficiency of the land defences. Where this is the case the ibiiting defences, instead of adding to the strength, were distinctly a soarce o/ weakness, Sir Graham Berry was examined before the Banking Commission. Ho warmly favored a S&ato Bank, mnking the note isdue legal tender, which would greatly relieve the gold circulation, and It conld bo kopt as a reserve. There wbs no need, however, f or a State Bade to keep anyihlDd like as large a reserve aa private b \uks, K should be started on oafe Hoof, *