BANK CHARGES FOR KEEPING ACCOUNTS.

New Zealand Herald, Volume XXXVI, Issue 11148, 22 August 1899, Page 3

BANK CHARGES FOR KEEPING ACCOUNTS.

TO THE EDITOB. Sir,—ln a late issue of your paper is a paragraph dealing with tho charges now being made by the colonial banks on all accounts. In it you state that the English banks have always made such a charge. I may say that I have had accounts with two English 'banks —tho Liverpool Union Bank and the late Isew Oriental Bank (London) —and my experience is totally contrary to your statement. Not only was there no such charge mado by these banks, but they paid interest on the minimum monthly balance, and until 1 came to this country I never heard of such a tiling as exchange 011 cheques. I consider this new move 011 the part of the colonial banks only another instance of the way in which tho small settlers are bled at every point. It is, of course, obviously aimed at them as m large accounts suoh a charge would practically amount to nothing. The banks, Government railways, steamboat lines, etc., all appear to join issue in squeezing every available cent out of us poor devils— the real backbone of the country. But, of course, so long as we, as a class, permit 'this treatment without protest, one cannot blame other more wide-awake persons taking every available advantage that they can. Ido think, however, that the banks might have been content with their "exchange," especially considering the fact that cheques' are practically tho current tender of the colony The aggregate toll that they low from the workers in this way must be something enormous. mien first I came to this country it struck me as very curious that the workers were willing to accept without murmur something that was not worth its face value in payment for their labour. I cannot imagine the British workman-much abused as he is -agreeing to accept in payment of his wages of, say, £1, something that was only worth 19s 6d to lum. I think if anything of the sort were attempted, lie would very soon start kicking. If the working classes, as a body, would refuse to accent payment of their wages m anything but legal tender of the country, they would save a largo amount of money that at present goes to England to pay dividends to English bank shareholders. But 1 suppose tho screw of hard times will have to get another turn or two before they begin to tliink of the nimble sixpence.—I am, etC 4 .i, 10n „ Cockatoo. August 16, 1899.