PUBLIC TRUST DEPARTMENT.

Taranaki Daily News, 11 March 1916, Page 2

PUBLIC TRUST DEPARTMENT.

COPIED IK ENGLAND. A WONDERFUL DEVELOPMENT. It is of interest to note that the Public Thrust Department, which was started raaßy years ago in New Zealand, has since it was copied by the British Government grown to a great institution in the Old Land. An interesting article appears in the January'number of the British Trade Review, which refers to the "romantic grpwth of the Public Trust Department" in England. This article frankly admits that the idea of establishing ft Public Trustee came from New Zealand, where "a globetrotting M.P. had been impressed by the efficiency of such a department. It, however, took twenty years to break down public inertia, and the hostility of vested interests. On June 1, 1908, the Public Trustee was appointee! tn England, and at the end of that year the Department 'had in its care active trusts valued at £2,100,000, but by the end of 1915 the value had •risen to £71,000.000. In the same period the fees earned rose from £4460 in 1908, to £7f),000 at the end of 1315. Since the outbreak of war, lioweyer, the business of the Department showed still more wonderful development. This U due to tile fact that aliens who were deported threw upon the Public Trustee the care of the various businesses they were leaving. The result was that last January the Public Trustee had about £110,000,000 of enemy property to look after.