54 On Fost Office Savings' BanJis, 8fc. 



cent. There was also permission given by the first Act to the 

 Trustees of any existing Savings' Banks to hand them over to 

 the Government, and it appears by the report of the Under- 

 Secretary to the Treasury for the year 1867 that the Grovernment 

 Savings' Bank had absorbed the three institutions which had 

 previously been established under the old system. I append to 

 this paper a progressive statement of the operations of these 

 Banks for the five years ending 31st December, 1869, by which 

 it will be seen that the number of Banks have increased from 28 

 in 1865 to 39 in 1869 ; that the number of deposits have increased 

 from 5254 to 13,965, and the amount from £82,065 to £241,77-1; 

 and that the balances at the credit of 5327 depositors amounted 

 at the close of last year to £300,522, being at the average rate 

 of £56 8s. 3d. to each depositor. 



Progressive Statement of Government Savings' Banks iu Queensland, from 

 1st January, 1865, to 31st December, 1869. 





No. of 



/ I>e] 



oosits ^, 



With- 







Year. 



Blanks. 



No 



Amount. 



drawals. 



Balances.* 



Average. 



1865 



28 



5,254 



£82,0651 



£26,463 



£56,582 



£31 7 7 



1866 



30 



9,128 



136,982+ 



107,646 



89,451 



35 19 11 



1867 



35 



8,948 



126,597 



97,621 



123,158 



39 6 11 



18G8 



38 



12,102 



210.148 



120.369 



220,662 



51 12 1 



1869 



39 



13,965 



241,774 



174,002 



300,522§ 



56 8 3 



In the last report on the working of these institutions, it is 

 stated that 21 per cent, of the withdrawal transactions had been 

 conducted through the telegraph wires, and that no loss of any 

 kind had been sustained either by neglect, miscarriage or 

 otherwise. It is moreover stated that the entire business of the 

 department had been conducted at no cost whatever to the public 

 revenue. The success of the system in Queensland has been 

 very marked, and the results which I have brought forward are 

 surely full of encouragement. They leave no reason whatever 

 to question the expedience of combining a Savings' Bank, with 

 every Money Order office in IS'ew South Wales. I have not the 

 statistics of other countries before me, and therefore, am unable 

 to fortify my argument by the example of other countries. I 

 am satisfied, however, that we have quite enotigh before us to 

 justify the immediate application of the Post Ofiice Savings' 

 Bank system to New South Wales. But lest we may be met by 

 the objection that the Post Ofiice department has already sufiicient 

 on its hands in the receipt and transmission of the mails, and in 



* Including 520 deposits and £22,007 l7s. 4d. transferred from the 

 Moreton Bav (old) Savings' Bank. 



t Including 100 deposits and £3527 14s. 3d. from old Ipswich Savings' 

 Bank. 



X With interest added to 31st December of each year. 



§ To credit of 5327 depositors on 31st December, 1869, 



