A FEW PERTINENT QUESTIONS.

Lyttelton Times, Volume XXVIII, Issue 2125, 12 October 1867, Page 2

A FEW PERTINENT QUESTIONS.

TO TUB EDITOR OF HIE LVmxtw TIJIES Sir,—l beg to submit the following Ra proper questions to be uaktd of Are you a shareholder in the Bmlr „» New Zealand? Do you bank there» and i so, are you under sach pecuniary obliwtinn to it that the authorities, i. e titL T director, or managers can exercise a prew ,V and thereby influence the manner in which you may vote ? "

As a contractor under Government or anv one other than Ministers receiving Gov"™ ment pay, cannot hold a seat in tliejw' cial Council or General Assem.ly, (]o y J r ': think that a shareholder in a bank w£2 Government account is kept, should J i" barred in like manner, on the ground that his interest!, as a shareholder in th»t hint clash with his duty to the country . J.J that through the exercise of his i n fl * D ? to favour the views and intents of that bank, a great loss is likely to come to th country ? " K

Experience has lately shewn us that a bill has been passed through Hie House which will hare the effect of putting into £ coffers of a bunking institution an enormous sum of money, which, in the opinion of men who hare given some consideration to the matter, and are qualified to judge «hould legitimately have gone into the treasury of the country, '

As the shareholders in the Bank of New Zealand are so numerous throughout* the colony, and can in such a direct manner bring strong influence to bear upon the votes of members (especially at a time whsn the whole colony is in the midst of a crisis, and the population generally is supposed to be in a state of impecuniosity and working on borrowed capital) do do you not think it would be advisable that the Government account should be kept with a bank less interested, whose shareholders reside in other colonies, and where no local and baneful influence could be brought to bear to do other than what will protect the interests of the colony at large ? bo you not think' that the Bank of Xew Zealand, with its resident shareholders, many of whom hold seats in the Provincial and Legislative Councils and General Assembly, has the power of exercising such strong influence over those in authority (some of whom also are said to be shareholders, aud to be under heavy liabilities to it), as will prevent the members generally from carrying out their honest convictions of what will be good for the people atlarse, as far as financial matters are concerned, and banking affairs, such as negotiation of loans, rates of interest for overdraft, &c, &c, carried out? Do you not think that the exercise of such influence has the effect of making the interests Of the colony (that is, the people) subservient to those of the bank referred to, and thereby keeps up the heavy rate of taxation which we are paying per head, and the heavy duties that we have to pay for the necessaries of life?

Now, Mr Editor, having asked a supposed candidate what lie thinks about various things which, as a working man, I believe, concern the country. I will tell you what is my opinion. It is that the Assembly, in the session now at an end, has done such things as will make a great loss to the colony at large and a proportionate gain to the Bank of New Zealand, and I attribute it to the exercise of that influence which was spoken of by Mr Johnston, when lie said " There was an influence behind the Treasury which was stronger than the Treasury itself." You, and the whole of us, know what that means; and I think the whole of thepeopls should make a stand against it, and set up their backs when they know (or must know sooner or later), that things like this keep our noses to the grindstone, and keep us under a load of taxation through the heavy expenditure they entail from which we will never rise, but which not only will ne felt by us, but by generations to come, and will bear its fruit 6 on the whole future of the colony. I do not agree with that part of the article in the Lytltlton Times, that the B;tnk of Sew Zealand shall be made a National Hank, be cause those who would have a voice in its valuation to the colony would in all probability be 10 deeply interested personally, that we would be made to pay too dearly for our whistle; and the experience of the past session has taught us th.it human nature is not strong enough to withstand the temptation of making one's own interest a first consideration. At the next general election, we should all be on our guard as to whom we should give our votes, and we should only send those as our representatives who can have no interest in improperly fostering the power of an institution that can do us so much harm. Depend upon it, Mr Editor, the colony will never prosper as long as the Government account is kept at a Bank where there are so many local interests that are looking out for " pickings." Your obedient servant, OVERDRAFT.