COLONIAL OPTIMISM.

New Zealand Herald, Volume XLVI, Issue 14219, 16 November 1909, Page 6

COLONIAL OPTIMISM.

" GOOD AND BAD T^ATTJBIS. [FROM OCR OWN CORRESPONDENT ■■ jy '. London, October ! Speaking at the annual meeting of Bank of Australasia, Mr. L. Sanderson, ,ss. chairman, said: "Australia and New. Zetland are, from a banker's point ofJ>taf/v difficult though . interesting v countritt to operate in, and this applies': just u fladt in good times as in bad. . One dbatactttiltiSij of Australians and New Ze&landers it : tint j. they are optimistic. This may IwW w drawbacks, but,: considering the difficulties that have to be faced in fighting dftmgbti, bush fires, rabbits, and ether nuafofta&t* to which Australia is from time to t'ttf, liable, it is only what I maj -5 callwf moderate optimists who have enabled tN# ; ; young countries to show such a remwkdde record of material progress. But I adafc* and I speak as' an Australian —ttUfcfc they "W inclined, tinder favourable carry their optimism too far, and the d»»> fer that banks transacting' business tfatw have principally to guard againstlit <0&i anything to encourage the inflation « values, which is apt to take "place ; Jfttj*j things are going well. " During the lwiiit? or six years we have had a. spell ofw perity which I think has been Weirds* served, considering the hard struggle tlUt Australia had from 1893— year of w»! bank crisis 1903, when J. ! ■ the% loot, drought broke up. To those who, Uk» ity* 4 self, were out _ thereduring the whole that trying period, the change that o»S W* taken place is verj welcome, v and I M# hope that we learned enough during; tbo« 10 years to prevent any possibility ioiffijk being demoralised by the present gw p crit - v " : 'f3m