HOW THEY CAN PAY.

Poverty Bay Herald, Volume XLVI, Issue 14847, 26 February 1919, Page 6

HOW THEY CAN PAY.

HUGE HUN BANK DEPOSITS. LONDON, Dec 21.— As illustrative of Germany's wealth, it was pointed out' m the city that the deposits m her great banks are about equal to those m ours, even after the recent huge bank amalgamations here by which bur figures have been swollen. The ' latest statistics obtainable! show that our five leading banks hold deposits' amounting tc- 1264 millions sterling, while the five leading German banks hold 1140 millions sterling, and this spite of the fact that the storage of wealth m deposits is not encouraged m Germany to the extent it is here. No British bank, even the London Joint City and Midland or LJoyds Bank, holds deposits reaching 360 millions, while the deposits of the Deutsche Bank exceed 450 millions. "Every cmnce of wealth," one financier said, "which we do not take from Germany m payment of her debt -will be used m competition, asrainst us. Her organisation is proceeding apace. Already it lias been arranged that her loan banks will be continued foi^four or five years after the war and will be available for all kinds of lending to promote German industry. And it is proposed to form, for Certain purposes and to increase Germany's financial strength, a copsortium of all bank?— the Heichsbank, the joint stock banks, and those Darlehnskassen which were established for war loan purposes."