COOK ISLANDS.

Star (Christchurch), Issue 17349, 14 May 1924, Page 10

COOK ISLANDS.

BANKING IMPROVEMENTS. (Special to the “ Star.”) WELLINGTON, May 13 Rarotonga has been created a chief post office, instead of being a suboffice of the Auckland district There lias been a steady development of trade between New Zealand and the Cook Group, particularly in the matter of Island truits, and the need for improved facilities of exchange and banning have been evident for some time past. It was, therefore, decided, wit.'i the concurrence of the New Zealand Post and Telegraph Department, to create Rarotongo a chief post office for all purposes. To enable the change-over to bo made smoothly and expeUitiousiy, the Post and Telegrapu Department lent Mr H. M. Tremewan, one of its .experienced accounting *>fficers, to the Cook Islands Administration. The chief, difficulty about the old arrangement was that, although the people of the Islands could make post office savings bank deposits, they couid only secure withdrawals after reference to Auckland, which meant many I weeks’ delay. Now, banking business can be done direct at Rarotonga, any 1 excess deposits beyond the necessary I working capital being remitted to New 1 Zealand. A similar system in Western Samoa has operated for four years with a surprisingly successful record. No less n sum than £40,000 is now held to the credit of Samoan depositors. T! e experiment in 1920 was entirely new, and there was nothing to guide the authorities in making any estimate as to the business likely to be done. D is evident that the post office has been j the means of promoting a spirit of , thrift amongst the people of Samoa } which was hitherto never suspected. So ! successful has been the post office at 1 Apia that the administration has re c.ently opened branches at Alieapata. at the extreme eastern end of the island of Upolu, and at Fagamalo. in ; the island of Savaii, to give greater j facilities to the Samoan people for inj vesting their savings. I It is fully expected from experience in Samoa, that the granting of full savings bank facilities to the people ! of the Cook Islands will result in a j similar substantial increase in the post | office savings bank. The fuller facilij ties will do much to assist trade both I within and opt side the group.