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The Cyclopedia of New Zealand [Auckland Provincial District]

[introduction]

All the five banks that do business throughout New Zealand have branches in Auckland, which has also a purely local institution in the Auckland Savings Bank. The Bank of New Zealand, which now has its head office in Wellington, was originally controlled from Auckland, where it still does a larger business than it transacts at any of its other offices. All the bank buildings in Auckland are in Queen Streen, and all, except that of the Savings Bank, are on the west side. First, not far from the foot of Shortland Street, comes the Bank of New Zealand, then the Bank of New South Wales, which is separated from the Bank of Australasia only by the handsome offices of the “New Zealand Herald,” and then the National Bank. The buildings of these four banks are all within a minute's walk of each other, but the Union Bank building is about 150 yards further up, at the corner of Victoria Street. Still higher up stands the Savings Bank, on the opposite, or eastern, side of Queen Street. This is not the place for a dissertation on banking as a business or means of trading in money, but it may be said that banking in New Zealand is much sounder than it was some years ago. Advances on hypothetical or purely speculative values have become things of the past, and the assistance which the country gave to the Bank of New Zealand has enabled that institution to re-organise its business on lines conducive to progress combined with stability. Of banking in the colony generally a good deal is said in the Wellington volume of this work.