THE BANK OF NEW ZEALAND.

Wanganui Chronicle, Volume L, Issue 12765, 17 June 1911, Page 4

THE BANK OF NEW ZEALAND.

To the shareholders, who are directly interested, and to the people of theDominion generally, the very gratifying position of the Bank of Nerv Zea- : land as revealed in the report present- : eel at....yesterday's meeting will make \ ory ■ pleasant ■ reading, The Bank could not well have celebrated its jubileo under happier conditions, for the figures disclosed "by tho Chairman are ' auch as to show that the last shadow of the dark days of the past has been '. dispelled by the sunshine of prosperity. *\ : There' is much in the report worthy of, '; the Serious consideration^, of all branches lof the cornnrunity. The outlook, on the whole, is reassuring, but Mr Beauchamp, speaking with due regard to ( the weight and responsibility of his j official pronouncements, has consider- . Ed it necessary to advise the. business . community, to pursue a policy "of economy and caution. He points out that the trade returns are not as encouraging as could be wished, a disappoint- ■ .'-iiigly small growth, of exports and an exceptionally largo increase of imports ■ ' indicating tlie possibility of some littlo stringency in the near future. Per- | l'tps tho most significant statement in the report is the following:— Turning to tho monetary situation, there is no .doubt that an abun--1 dance of money is available in New j Zealand. The scope for jts employj ment, however, is restricted. Any j industrial enterprise likely to require much labour is not viewed as a good) j proposition. Capitalists are unques- ! tionably nervous at the attitude of Labour, and this is to be deplored, I for it must be patent that unless , there bo exhibited a spirit of haj* mony between Labour and Capital, no quickening of industrial activity can bo looked for. I have the conviction that if employers and employees exhibited a genuine desire lo work amicably together with a mutual regard for the just interests of each other, industries which are at present in , a languishing condition - would spring into reinvigorated life and prosperity. This is essential in the interests of the State. Words Jiko these cannot be lightl/ disregarded, especially when they are j uttered by a man whose intimate ac- ! quaintanco with tho financial and mii dustrial affairs of the Dominion enable ! him to speak with authority. It is not * the first warning of the kind tendered ! j.c the public, and especially to those I who are responsible for the industrial | friction which has rendered the wai-n----i ings necessary. This, however, is a I matter which we heed not stop to emj phasise here. Our purpose is rather to i tender our hoarty congratulations to' . the directors and staff of tho Bank of New Zealand, and to express the hope J to at their efforts during the ensuing year will be rewarded with resuVs equally as satisfactory as those revealed in tho report which we publish .this : morning