MONEY AND CREDIT — BODIES OF REFERENCE
28?
The telegraph system is entirely in the hands of the Government, On March 31, 1898, the colony had 6,484 miles of line and 18,024 of wire. In the year 1866 there were 699 miles of line and 1,390 of wire. The number of telegrams despatched during the year ended March 31, 1898, was 2,696,233, of which 2,469,415 were private and Press messages. The telephone is very generally used, and is also in the hands of the Government. On March 31, 1898, there were 5,787 connections. The capital expended on the several telephone exchanges up to ^larch 31, 1898, was 142,219?. The telegraph and telephone revenue for the year 1897-98 was 136,221/.
Money and Credits
There were, in December, 1897, live banks of issue doing business in l^eW Zealand. Two of. these were wholly New Zealand institutions, having a paid-up capital amounting to 1,250,000?., besides which the Bank of New Zealand has 2,000,000?. of 4 per cent, guaranteed stock* The total average liabilities of all live banks for the last quarter of the year in respect of New Zealand transactions were 14,934,211?., and the average assets 17,222,415?. The average amount on deposit was 13,828,432?, The value of the notes in circulation of these banks was 1,015,040?,
The post-office and private savings-bank business has been progressive during the last five years : —
Years
No. of Savings Banks
346 355
364 378 395
No. of Depositors
Amounts Deposited
Amounts Withdrawn
AmountB on
Deposit at End
of Year
1893 1894 1895 1896 1897
147,199 154,405 163,513 175,173 187,954
£ 2,842,352 2,661,547 3,238,781 3,354,790 3,672,405
£ 2,601,529 2,706,3,58 2,841,140 3,060,651 3,378,912
£ 3,966,849 4,066,594 4,620,696 5,065,864 5,520,080
Agent-General in London. — Hon. "W. P. Reeves; Secretary ^ Walter Kennaway, C.M.G.
Attached to New Zealand are the following islands :
Chatham Islands, 43° 50' S., 177° W., 536 miles E. of New Zealand. Are 375 square miles ; population (1896) 433 (234 Europeans and 199 Maoris and Morioris) ; 66,000 sheep, 450 cattle,
Auckland Islands, 50° 31' S., 166° 19' E., 200 miles S, of Stewart Island. Area of largest about 330 square miles. Uninhabited. The New Zealand Government maintains a depot of provisions and clothing for the use of shipwrecked mariners on the largest island of the group.
Kermadec Islands, 36° S., 178° 30' W., 600 miles NNE. of New Zealand. Area 15 square miles. Population (1896) 7 persons.
Small uninhabited islands are : The Campbell Islands, the Antipodes Islands, and the Bounty Islands.
Books of Reference.
Annual Statistical Register, Blue Book. Annual Reports on Mining. Annual Official Year-Book.
Census of New Zealand, taken on the 12th of April, 1896. Fol. Wellington, 1897.
Report on the Results of Census, 1896. 4. Wellington, 1897.
New Zealand Official Year-book, 1898. 8. Wellington, 1898. Report of the Depart- ment of Lauds and Survey. Annual. Wellington.
