A.—4

61

and an account kept there shows the number of each account-book, with the folio in the Depositors' Ledger, showing to whom it was issued. The same account shows the office to which each book was sent, and therefore from which it was issued. In every branch office a cash-book is kept, in which all receipts are entered, and a copy of which is sent to the head office by every mail. The local officer pays his collections into the local Bank daily to the credit of the Colonial Treasurer's Savings Bank Account, and attaches a duplicate Bankslip, initialled by the Bank, to his account. "Where there is no Bank, he sends up his money to the head office by registered letter, in notes, cheques, or cash. The head office collects the cheques; but no operation is allowed on any account until the cheques are paid. The head office pays the whole of the money into the Treasurer's account at the Bank daily, the Bank-slips from the country branches being taken as cash. Any sum, including shillings and sixpences, may be deposited or withdrawn; but no account is opened, nor can any sum, except a balance, be withdrawn, for less than ss. Applications for withdrawal may be lodged with any office, and are sent by the first mail to the head office, which returns a cheque in- favour of the depositor on the Brisbane Bank. These cheques are cashed without exchange at any branch of the Government Bank; and where there is no Government Bank, at any other Bank with which the Government Bank makes arrangements for the payment. Where a deposit is withdrawn by telegram, the local officer pays it out of cash in his hand, or by a cheque on the local Bank, which the Bank cashes on being shown the telegram from the head office. In some such cases the money is advanced by the Customhouse officer; and in all cases the advance is repaid by a cheque from the head office. The receipt given by the local officer in the deposit-book is not, as in England and elsewhere, limited in operation by time, at least not by the Act. By regulations which are printed on the first page of the deposit-book, the depositor is informed that, unless he receives a receipt from the head office in the course of post, he must apply for it; and in default of doing so, the Government will not be responsible for the money. Whether such a notice, unsupported by special enactment, would be construed as a part of the contract, is very doubtful. As a matter of experience, however, even where such a claim is barred by law, when the deposit has been lost by default of the local office, and the depositor has neglected to apply for a receipt from head quarters, the Government in England and elsewhere has found it expedient to pay a bond fide claim to support the credit of the office. Receipts are sent from the head office daily as the application forms are received, and not more than four or five complaints in any month have ever been made of such receipt not having come to hand. Intending emigrants can deposit money with the Agent-General in London, to remain in the Savings Bank till applied for, on the usual terms. The Savings Bank pays interest to its depositors at the rate of 5 per cent, on sums up to £100, and 4 per cent., thence to £200, but no limit is placed on the amount which may be deposited. No interest is paid on higher sums than £200, except in the case of deposits in London by intending emigrants, to whom 2-| per cent, is paid on any portion in excess of £200. Interest is credited yearly on the 31st December, but no interest is paid for the broken part of the month of deposit or withdrawal. The principal books kept are as follows : — The general cash-book is debited with the receipts showing daily totals from each branch office, with interest and other items, and is credited with the cheques for disbursements. The nominal ledgers contain a separate account against each depositor, showing his payments, withdrawals, and interest on balances. The heading shows