Financial Matters.

New Zealand Graphic, Volume XL, Issue 17, 22 April 1908, Page 10

Financial Matters.

On April 8 America made her first return of the many- millions in gold imported during the October panic when the National City Bank of New York consigned a million dollars.

The reserve in the New York banks is now far above the percentage required by law.

Mr. Fowler, whose currency proposals were recently defeated, has introduced into the American House of Representatives a bill providing for the appointment of a commission to prepare a scientific financial currency system, consisting of 11 Senators. 11 members of the House, and 21 citizens appointed by President Roosevelt. The commission is to report in January.

The methods adopted by financiers in combining interests have been adopted in an unexpected quarter. Farmers are generally considered to be the most conservative class in the community, but 4500 v/oolgrowers in Utah, Nevadah, Wyoming and Arizona are forming a trust, with a capital of twenty millions sterling, hoping to dictate terms to the Eastern mills as to the price of their produce.