THE MAUNGATAUTARI BANK.

By J.JJ. Edgar, Lawrence, Otaqo.]

Tho important character of the Maori has become so notorious that tho notion of a Maori bank, mauafeed by Maori* for Maoris, with a staff of clerks and depositors, printed regulations and othor addenda, will bo received with inoredu. lity—will be scouted, in fact, as tho invention of some imnsunaUve _ mind. Five years ago, however, a Maori bank, such as I havo described, existed at Maungatautari, and for a time did an active, and (to the ownorB) lucrative business. Tho outness, I may say, was purely a deposit one DnriDE tho sitting of ' the Native Lands Court at Kumwiti, when immense areas of laud were being " put through," and the inheritance of the Nattvoa transferred to the Laud Purohnso Companies and speculators, largo sums of parohaso money were paid io , tli© tribal owners who succeeded in establishing their title to the various blocks adjucated on. Almost overy native one mot was the proud possessor of a pooketful of notes (which, being of greater bulk, were generally preferred to gold), or of a deposit receipt for a substantial amount. Being unablo to spend it as fast as they received it— the generous assistance of tho publicans notwithstanding—the money was generally deposited in tbo banks, of which there were two in tho place. Though noither bank paid interest on these ahort deposits, the use of tho money was amply paid for by the trouble and annoyauce given by the depositors. The younger men would call, porhaps twice a day to make a draw, while the older ones would call regularly every morning and ask to look at their money, just to see if it was all right. The women were n groat nuisance When they mado a doposlt they appeared to tbink it gave thßm a proprietary Interest in the establishment. Whon tho bank opened in the morning they would rush in. ask for their money, count it, and, satisfied that H was there would once more hand it ovor tho counter and then go out and sit on tho doorstep. Thero was a terrible how-d'-y'-do one morning whon old Mere Wakatutu went to count her £60. The clerk handed her over three notes — two twenties and a ten— and in roply to a look of astonishment, informed lior that sho was entitled to no moro. Sho had paid in fifty ainclo notes, and was not going to bo put off with three— Hot she. The joke was a good one, but it deprived tho bank of many of its customers in Knmrciti. Things were in this flourishing condition with the Maori* whou the. thought of starting n Maori bank suguested itself 1 ■* fpw men of " light and loading "in Mauve circles. They reasoned to themselves—or, at least, to those abnut them — Uml while hanking their mmi"? did not result in ai.y loss to thn Maoris, it must result i:i Pome profit to the Eu'opeam, otherwisi' iho Europeans would not kf«p b.iiiks. It wai accordi"Cb' r'pr-n-isi'd at « 'iieetinu o-tlled l< consider tbo tuHl'cr that, a* tho EuropeßUH were making o profit' by keeping i he Maorin tnonny, tnero wna no reason why (ho Maoris should not be thoir own bankers, mid ciijoy' tho profit thornselves. Tho idea met i-illi ready ncoip 'at:ce, was luken, up with enlh.ißiaßm, audbeforo raanv daya'Had.passed, preparations were una<fr way to establish what subsequently came to 'bo known— alas !to many, too woll known— as tho Manga, tautari Whard Uta. Tho basis on which tho institution was started was somewhat original. A bank toaMaori was a place where mnncy was kbpt for safety, to bo available f 6 the owner when reqnired. In their bank thero were (o be no advances— no overdraft ; everything went in, but nothing went out, (j A Board of Directors was appointed, • mouily well-known chiefs, pelleted from various tribes. Two half-castos — tho sons of a Will-known missionary, by tho way— h bo had had on English education ; (a very rompiehousivu toim this) wore cngigcd im clerks or bookeepers ; and it was oho of thr-Rfi who come to tbo office 1 of the Border Chronicle one morniug to 1 consult m<- nb>m'. printing tho pri.spettim. This prcei >us dncument whi in Maori, and the interpretation ran ai follow*:— i THE MAUNOATAUTAItI MOKEV UOCKK. Board of Diroetcra . To Kaikoura (th« Fislieatar). To Roiputa (ihu B mt with Tuskß). '. iJamu to Pmigurungoru (Sam the . Sponge). To Whakatoi (the Toaser). ', Wiramu te Tapu (Williuiu the Holy), f Ilono te Parikou (John Slippery Fiah). i To Kaipuratoko (the Glowworm . Eater). t Apcrahame te Roi (Abraham the ' Jewel). To the Maori People : , Greetings. : WhcroHS it has come to tho knowledge of tho foregoing chiefs that the people of the tribes Ngutihaut, -Ngatikaplti, s Ngatimaniupoto, Nagiiraukawa, Ngati- > tirangiweliewehe, and N'gatiwaikato 1 havo been in tho habit of banking with 1 certain Europeans : And whoroas tho Maori peoplo bo banking havo beon grievoualy wronged | in their dealings with iheso Europeans, , who have Inrgely prolitoi thereby : j And whereas our bi'&rts being greatly ; grieved at t!iis robbery of our pooplo : , Be it known, thorcforc, that wo, tho j chiefs ')f tilt) tribnß aforementioned, in ) Council assornblwd, have deoidod to ' start ii bank for the nso of tho Maori ' people. 1 Thu rub's upm whioh this bank will [ be conducted urn : — ; 1. Tlie right to ahare in the privileges , of tho Mauni:at(iiitari brnk is coufiuud to people of tbo Maori race, i 2. No deposit will be accepted for a shorter term than six months. 3. Tho rateH of intercut to bo paid on [ deposits lire :— on all suraa under £'20, i) per cent ; ovnr £20 -md k'ss than £50, 10 per cent; <>v.-r JUoO and I<i«h tliun 'j £100, 15 perß.'Ut; ovor £100, 20 per ' flout, 4. The Bank will ho ripen to roceivo j dppotits on Mondays, Wednesdays, and Saturdays, between tbo lioura of 10 a.m. and 4 p.m. (Signed) Tamniti Nilroremn, Secretary, I give the Direction' nnnies in ICngllsh, aa an i!U\rtr.itiou of iha-ctornal Dtncaa of tilings in ]\la&ri pliilulo^y. Thoprospnctus, whiuh ivas printed ju iho form of n colored "dodger" (tbo Maoris ilcurly lovo the col'-rn), v/isi duly circulaled. The reap'<nsu was bi-j'<ind ifto cxpoctations of t|i« must KHii^uiiiK A Maori bunlc for Hie oxeltisire luoof that injured and sorely iii.<jiictid pcu];lp ! Excellent idea ! Anil stuh liberal interest, too ! Wliy, only a few of thuso who deposited money in tho paki'lm banks wero getting inters st nt all ! Yea, j It was ju->t tlio very tliinp the Mapris wanted ; ought to have been thought of long ago. The nows oF tho I'nuk spread like wildfire from hapu to hnpu, from tribe to tribe, from kninga to Ining*. Thero \ wua an imuudiute run on tho ISur. pean hanke, us if Iho rumor of ruin hud got abroad. Men and woiuim josllud tach othor at tho counter f...r who would get J their money first. What imprecations and elbow Ings ! A spectator of a dramatic turn compared it to a pit door on a first night. 11 ad the inn been general ' the banks must have put up their

shutters. By twelve o'clock on the day after the issue of the prospeotus there was not a Maori shilling in a European bsnk In tho country. The premises secured by tho Maungatautari bank wero of the mosiunpretentlousv nature, and its very insecurity might Wo served as a finger of warning to tho unsophisticated.. They c«n»isted of a largo runaoga house divided into three compartments— office, "strong" room, and sloopine compartment. Tho clerks and some of the direotors ate and slept on the premises. Th,o treasure, whioh amounted to somo hundreds of pounds, wns securely locked away in candle-boxes in the strong room. The confidence in tho batik was almost universal. Every Maori who had ft pound which ho could not otherwise dispose of, put it in tho bank that it might "grow," as somo felicitously termed it. True, there woro a few who, after a few days, began to entertain misgivings sud demanded their money ; but the Directors were obdnrato ; tbo rules conld not be violated. Tbe Bhortest term of deposit was bix months, and no monej could be returned under that time.

Som« w«pVs after the tank commenced buainesa it bec&ffle Apparent tliftt two or three of the Direotors had unlimited resources at thoir command. Their gencroaity was cyan prodigal. "William the Holy" was the owner of a buggy end pnir"; thu " Bout with Tasks " had commenced the erection of a villa residonoo A la Anglaistt the "Olow-worra Eater" evinced a relish for succulent mutton and bottled stoat j and tho "Slippery Pish "■ figured in sporting circles at tho owner of ft racing stad. To crown tho extravagance, the armed guard were aotually wearing trousersno makoahlf t garments, but real orthodox unmentionables, though they did persist in occasionally wearing the wrong nido foremost. It is not too much to say that those connected with the bunk, however remotely, were the envy of all Msoridotn. Opposition banks were talked of and attempted, but without succoss. The clients appeared to be all mod up.

The bank was »n the eenith of its power when a groat Maori mission to England wan decided on. Among thono who undertook to go to England wore noveral of the Direotors j in fact, it was at a meeting of tho Board thut this grost mission was suggested. Te Rei brought the mattor forward. After doaliujj with tho Treaty of Waitangi— that old dubjoot co dear to tho heart of ovory Maori owtor— he said the spirit of ft df>ad ancestor hud appeared to him and told him he must «o to England. There | lived the great pakeha Queen, the ri;dresscr of all wrongs.- T»o Mnoris had been robbed of thulr inheritance, their children were landless nnd their chiefs without viana. Lut them fio to England nnd lay thoir petition before tho Queen. Tho money of the bsnk could not bo spent in a better cause. Was not tbo mission in tho interests of tho pHoplo p Wlmt, thornforo, moro roHsonable than that tho Maori peoplo should pay for it? And who wore tho proper persona to go on this mission ? Tho chiefs, (if course. And what f>reatcr clieifa (pronounced " theifs " by the speaker) wero thero tlian To 11 -i and To Parikou 'i They wero the cliifif-i of Ngatiwaikato ; nnd had nut the ancestors of Nsjaliwaikato kill".!, cooked, and eaten tlio; ancestors «f Kfiatipatu and Nuatikbqa Pv"' -; ' C- * Tbia ourront of reußonJne h^d. tlw. desired effect. Old ftoipttn (Boar ywr Tuake), who wftn a bit of ft d.inßy in' hi».wny, said he. had had a dro.MU,in which ho taw tho Queen beckon '0.-hitu.,. He; would ro to England. Ycp^»6-W#; should find the muney. Wh^r»«SJ|f};jop was the tnonoy of the Alaort tiqtipW.i-pttJ By ibis time 5 considorablo^ttMnip.C 1 <ho deposit money had been Wrested it. Buoh securities as the personal p¥b3ih|fti'; tiona of tho Directors coujd' sd^l^S^ There was still, however, soiD'frtftffldfat^;of poundii iv tho ooffors, and»thfl|flt',^W? agreed, should go towarda o()inij)pifi^.tTO' mission, procuring presonts • fdtv**Hß Queen, and paying tho expenses of t(s nelf-appolntod delegates. Tbo decision of tho Directors on this bend, it nifty );o monti mod, was not forrhnlly oomraunicfttcd to the bank's olientH.

Whtn tho fix months whio'-i had to elapse bntweon tho deposit and withdrawal of money in tho M>iuiiiialaiilari bank had piHsod over, tho now famous Maori mission was "out on the ocem failing," well on ita «ay to England. Tho bank opened on the Mtroh 1, and exactly nn tho Bppt. 1 Maori* from tho outlying settlements in lurgu number.! might havo boon seen wending their way to i\liiuiiE<tautari. These wero the. depositors, who, having been living in n state of solf-denial for a loner tiino, were jubilant that tho day had at \n*t arrivt'd when they could ihnke a draw- and dissipate to their hoarts' content, And then there was the interest ! Not only would they haye 1 their own money back again, but were they not told that their money would "grow?" "Would the bank bn open when' they ar.ivod P " thoy i asked each other. Yes, snre enough, the bank w»9 open. There was a crowd about tho promises, too, talking, swearing, vociferating— ail clamouring for their money. The women worked themselves into" a terrible $'t u£, passion, and tbo men gave vent to ihejr j feelings a* Maoris only know how" ,Jii response to the general clauvnir, Hom,iite.ulu, the cleric in charge, bad told tho infuriated people that tho Directors had taken all tho money to Englnnd. Tho love of lucre is as strong in the savago a3 in the civilised man, onoe its pixver is understood. Tho tompoDt of disappointed greed that now broko forth was a powerful commentary on the progress towards tho ideal 6'f which tho missionary i B|)eiikn, Home beat the walls willi their fists, others wreaked their fury on those ill the ofTioials that remainod ; whil" not a fuw took tho intttfer philosophic illy enough, cotitenting thomselvos with a few muttered imprecations. Thocroivd jucreaaoi as the day proceerlcd, , and every minute tho pisfiion gutherud in intensity. At last the idea seemed to ■ tnko hold thai tho money must bo still iv the bank, and all at oncu tint fury of the multitude concentrated itec'f ur mul the walls uf tbo " Wharo Ut«." \Yiiliin thu twinkling of an eye thn old rapn whnre was torn to the ground, the boxes which had dono duty as tn-asur'' che.-ts wore Btnashed to pieces, bocks iuil p iper< weru thrown to the wind, nml tho people, who seotndd to havo taken lijavo of tlccir nenfir«, jumpod about in their wi d daliiiuui. Of the old ftinaiiga nothiim remained that could bo up-rooted. All of a Hiul'lcn a tongue of flamo leaped forth, and before many minutes there was nothing visible of the Maiungatuu'ari b-irik but » benp of Sinoul'ld.-ljjg uahua "and tho grief and indignation of tho clients. ••• • - » Some months after tho incidoiila just recorded, wl.en tho fooling had subj:Ji d urid ihn pofiplo wore reconciled to tlipr losjcb, tins mission leturned from Kn»{lanil. When they called tlio prsuple togelh'r they wore cpablpd to tell then) of tho yreat things they had achieved in J the land of the pakcha. Tho Queen, they said, was greatly greived at the wrongH of the Miuris. She would give biie'< all their lauds and rontorti their ehiofs to their ancient maim. Ab fur the rnwiov in the bank which they hud lak>n, what of t'.ai'l Did they not know it wna i he oiistom of ill binkH to ehurjio iuterest P They also bail charged intoreftt. The charge made by the bank whs so much par cent, per mputh, so that some of tlio depositors wero actuiuly in debt to tlio bank, the interest t/iei/ had charged \ for keeping the money had eaten up the principal,