F.—4b

1899. NEW ZEALAND.

POST OFFICE SAVINGS-BANKS (PAST AND PRESENT RATES OF INTEREST PAID BY).

Return to an Order of the House of Representatives dated 12th July, 1899. Ordered, " That there be laid before the House a return showing—(l) The rate of interest allowed on deposits when the Post Office Savings-bank of the colony was first established; (2) the various alterations (whether of increase or decrease) which have since taken place, and the dates thereof; and (3) the present rates." —(Mr. Tanner.)

Return showing Rates of Savings-bank Interest since the first establishment of Post Office Savings-banks. On Sums not On Sums not exceeding £200. exceeding £500.* 1. The rate of interest allowed when the Post Office Savings-bank of the colony was first established (Ist February, 1867) ... 4 percent. 3 percent. 2. The various alterations which have since taken place, and the dates thereof — Ist July, 1875 ... ... ... ... ... 4-J per cent. 4 per cent. Ist June, 1893 ... ... ... ... ... 4 percent. 3 J per cent. Ist January, 1896 ... ... ... ... 3£ per cent. 3 percent. Ist November, 1897 ... ... ... ... 3 percent. per cent. 3. The present rates are ... ... ... ... ... 3 percent. 2 J per cent. * Note. —As soon as the principal exceeds £200 interest on the whole amount at oredit is reduced to the lower rate. Interest at the lower rate is allowed up to £500 only. Any account exceeding that amount is paid interest on £500, no interest being allowed for the excess. W. Gray, General Post Office, Wellington, 18th July, 1899. Secretary. Approximate Cost of Paper.— Preparation, not given ; printing {1,375 copies), 18s. 6s.

By Authority: John Mackay, Government Printer, Wellington.—lB99. Price 3d.]