STRENGTH OF INDIANS

Wanganui Chronicle, Volume 79, Issue 182, 6 August 1935, Page 6

STRENGTH OF INDIANS

| QUESTIONED IN COURT I'WO BOYS AND A MAN “ And do you think that two boyf like yuurself and your mate could huld this man down?’’ asked Air V. B. Willis, of a witness and indicating an Indian in the dock at the Supreme Court at Wanganui yesterday. Witness (an Indian lad of about J 4 years): Bring him outside and we’li show you. Jt you think we can’t hold him just bring him outside. Air Willis motioned to the accused to stand up, and suggested that he was stronger than another adult Indian who was to give evidence. Witness: I don’t know. Air Willis suggested that the other Indian he referred to was a wrestler. Witness: I don't know. J’m nG y. rest! er. Air Willis: L put it to you that accused ran away because all the othei Indians were chasing him. Witness: He didn’t run away, because we were holding him. Air Willis: How long did you hold him on the ground? Witness: i don’t know. I couldn't very well sec. Air Willis: Then you are not a very good judge of time? Witness: 1 can tell the time all right, but I didn’t have much chanve to see what it was when we were holding him. Air Willis; I put it to you that he could have got away if he had wanted to. Witness: We were holding him. How could he ? His Honour: He has told you, Air Willis. They were sitting on his chest. Air Willis cross-examined a second boy witness in a similar strain, the witness replying in much the same manner. Air Willis: Wasn’t there an Indian fued or something between you? Something that had come down from father to son? Witness: No. All the same friendly with him as with other Indians. Counsel also cross-examined an adult Indian, husband of the woman complainant. Air Willis: The accused ii stronger than you are, isn't he, and aren't you something of a wrestler/ Witness: I’m not a wrestler, Air Willis: Will you deny that you wrestled in Fiji ? Witness had never heard of it. Air Willis: Didn’t you wrestle with a man named AlcGregor? Witness: McGregor isn't a’champion wrestler. He's just like myself. Mr Willis: Have you wrestled Whiskers Blake? The witness replied in the negative. rather than A’s LO.U. The bank's assets are its securities, the deposits are its liabilities. Why, then, does the bank require deposits? For the reason that Jt depositors were tu demand payment in gold the banks would have to cad up loans and the bank would cease to function. In commercial language wc say that the banker isues “credit” but it' we used the word in its literal meaning* we would probably say that, the de positor gives the credit, for he credits the banker with having used care to see that his securities were sufficient tu protect the deposits. But you ask, it deposits result from advances how can they exceed them? Tu explain this fully and to show how this tendency of deposits has ruined the people in nation after nation would take more space than you can spare. Briefly, tnere aie two principal explanations; first, securities have fallen in value > and losses have been made so deb>s to the bank have had to be written off; second interest ]>aid to depositor has not ocen spent but has been left us a deposit, thus swelling lhe deposits and at the same lime depressing values. To meet this abnormal statb of affairs the banks are forced to keep a wider margin between interest charged on loans and interest paid to depositors. They have also met the position to some extent by accepting a lower profit. R<eccnt conversions of public loans have also assisted. Some of your correspondents appear to argue that because the banks con trol the issutj of credit, (which they do to some extent), therelore they can issue or restrict the issue of credit at will. But the fact is that the banks control that issue much us the ticket clerk at the railway station controls the issue of tickets. But unless he commits a fraud neither can issue unless the security in the one case and the money iu the other is provided. There is nothing wrong with the banking system, the trouble lies elsewhere, and is clear to anyone who will take lhe trouble to master the facts. Yours etc., OSWALD GARDNER.