"THE TURN OF THE TIDE."

Thames Star, Volume XLVII, Issue 14555, 24 June 1913, Page 4

"THE TURN OF THE TIDE."

When at Awaldho ihe other day. the F'ostinaster General announced that the Savings Bank! deposits in May exceeded, the withdrawals by .£69,----516, as against a "corresponding excessof £82,566 in May, :1912, and of £57,212Mn -'April, 1913. He did not know, he said, whether this was due to the raising of the rate of interest, but it certainly showed that people were depositing more money in the banK. In telegraphing this to the newspapers' the Press Association agent summarised this as an indicsir tion of the "turn of the tide." These words were not Mr Eitodee's, but they seemed to convey, his meaning; that the' monetary position- had,, commenced to improve. The New Zealand Times, howeiv'er, devoted a; leader to the subject in an endeavour to show, that Mr (Rihodes was "clutching at sti"aws" in regarding the figures as a turn in the tide.*, Subsequently a Times representative waited, on Mr Rhodes, and found that the words forming its text?—"turn of the tide" —were not his, but that the figures were quoted by him to show that people were depositing more money in the. Savings Bank!. The reason, he added, is that money is easier, and that must have an effect on the Savings Bank, It is to be hoped thaifthe Minister's optimism will prove to be justified. The tide has' taken considerably longer to turn than was anticipated!;