H.—44.

The following table gives, in comparison with the similar table relative to exports, a rather striking view of this trade disparity : —

Value of New Zealand's Imports according to Country of Origin, 1925, 1926, and 1927.

These figures clearly show that while the total of our purchases from foreign countries is fairly well maintained, our buying from British countries has appreciably declined during recent years. The percentages of our imports coming from the main countries of origin during the past three years have been as under : —• 1925. 1926. 1927. United Kingdom .. .. .. .. .. 48-68 45-60 47-93 United States of America .. . . .. .. 16-94 20-05 18-04 Australia .. .. .. .. .. 9-99 9-27 8-64 Canada .. .. .. .. .. •. 7-46 6-88 6-11 India and Ceylon .. .. .. .. .. 3-36 3-57 3-61 Fiji .. .. .. .. .. 2-36 1-79 0-95 France .. . . .. .. ■ • • • 1'75 1-63 1-99 Germany .. .. .. .. .. 0-95 1-35 1-87 Japan 1-32 1-17 1-32 Dutch East Indies .. .. .. .. 1-16 1-59 1-97 Banking Returns. The banking returns as at the 31st March, 1928, record a marked improvement over the position disclosed by the returns of a year earlier. At the 31st March, 1927, advances were in excess of deposits by an amount of no less than £5,271,996. At the end of March in the current year this excess of advances had been changed into an excess of deposits of £3,887,926. In other words, the banking position may be said to have shown an improvement during the twelve months of £9,159,922. This substantial improvement in the banking position arises, of course, very largely from the improved state of the Dominion's export trade during the past twelve months, and from the fact that in May of 1927 the bank rates for overdrafts and for deposits were increased, the minimum overdraft rate being moved up from 6J per cent, to 7 per cent. The following table shows for the past seven years the deposits and advances as at the 31st March in each year : —

3

I I 1925. 1926. 1927. British. Possessions, Protectorates, &c. — £ £ £ United Kingdom .. .. .. 25,572,802 22,827,406 21,462,977 India and Ceylon .. .. .. 1,757,337 1,730,399 1,614,624 South African Union .. .. .. 113,950 140,021 122,597 Canada .. .. .. .. 3,916,237 3,431,533 2,737,401 Australia .. .. .. .. 5,249,493 4,625,200 3,870,636 Fiji .. .. .. .. .. 1,239,456 892,894 424,785 All other British countries .. .. 413,001 426,288 484,027 38,262,276 34,073,741 30,717,047 Foreign Countries and Possessions — United States of America .. .. 8,885,265 10,000,507 8,077,066 France .. .. .. .. 918,572 814,929 891,499 Germany .. .. .. .. 500.475 673,472 838,600 Dutch East Indies 610,686 793,457 882,160 Japan .. .. .. .. 693,632 582,352 591,805 All other foreign countries .. .. 2,585,501 2,951,105 2,784,769 14,194,131 15,815,822 14,065,899 Totals, all countries .. .. 52,456,407 49,889,563 44,782,946

Excess of As at 31st March, Deposits. Advances. — Advances. Deposits. £ £ £ £ 1922 .. .. •• •• 40,360,390 46,491,315 6,130,925 1923 .. .. •• •• 43,465,816 42,521,573 .. 944,243 1924 .. .. .. 47,033,293 44,403,524 .. 2,629,769 1925 .. .. •• 49,897,228 43,730,262 .. 6,166,966 1926 .. .. .. •• 47,302,480 48,285,142 982,662 1927 .. .. •• 45,528.812 50,800,808 5,271,996 1928 .. .. •• •• 49,958,293 46,070,367 .. 3,887,926