MR SAUNDERS AND THE BANK OF NEW ZEALAND.

Auckland Star, Volume XXI, Issue 187, 9 August 1890, Page 4

MR SAUNDERS AND THE BANK OF NEW ZEALAND.

(BY TELEGBAFH. —OWN BEPOBTEB.)

Wellington, this day. There is a good deal of talk here with re* gard to certain statements made by Mr Saundere in the course of the debate on Mr Hutchison's charges against) the Bank New Zealand. The speech was delivered at an early hour on Saturday morning, when most of the press men, wearied with a ten hours' debate, had retired for a shorb time to the press room. The Hansard proofs, however, are now out, and the exact words used are available. They will pro* bably be challenged in the House during the eneuing week. Mr Saunders said: " I Bay that no man ought to have any right to sit on those benches, or to administer the government of this country, and undertake to deal on our behalf with the Bank of New Zealand unless he was entirely free from all restraint, and all obligation to that Bank. I know it) has been said to-night, and I regretted to hear it said, that the Bank of New Zealand would not use its influence improperly with any member of the Government. I think that when once a man is placed in such a position as some of the members of this Government are admitted to be placed in with regard te the Bank, and become under a deep obligation in their transactions with that Bank, we can really hardly know how far they are influenced by feelings of dependence or grati< fcude, nor can they ever be sure themselves that such feelings have no influence on their Ministerial duties. However, it is a very painful position, and I may illustrate what I mean by a circumstance that I think bears very strongly upon this case, and which I think will sno^'vybti^"Bir,'v I: *_aiid':;'iliUi' House, that. I have the beeb reaeona iojf Baying the Bank of New Zealand is niob above using' its influence when ib v in a position to do so. It is about eleven years ago that I thought myself a wealthy,; affluent man one day, and the next day t had not a farthing left, in the world. For*; tunately I was in no one's debt, and I owed nothing to the Bank ; but unfor-, tunately one of my sons was in some degree connected with the Bank, and in some degree under its thumb. I think it was on some occasion in this House when a question came before it in connection with the purchase of some of our district railways j Mr Driver was in the Houee ab the time, who was supposed to represent the Bank of New Zealand. Hβ came to me knowing my circumstances, how deep my sympathies were for my son, and how much thab son was just thon at the mercy of the Bank, and told me that the Bank wished me to vote in a certain direction. I paid to him that if I had to vote in the direction the Bank wished, I would resign my seat to* morrow, as I would never betray a cob* stituency by pretending to represent it when really I only represented the Bank of New Zealand. The next day I saw about twenty notes come into this chamber. One was handed to me, and the rest were handed round the House. I opened mine, and/ found that it was a message to the same effect, that the Bank wished me to vote ia a certain direction, and I never felt so much humiliated. I sat down to consider whether I ought) to resign my seafc or not, but I never considered for a moment whether I ought to obey that note or not. This shows in the moat practical manner thab the Bank is not above using its influence/ If it was worth their while to stoop so low for my insignificant vote, is- it likely that tftey would bring no Ministers, who could put httndi*eds of tfU&ti sands of our money into their hands} 1 How , tftilikely then is it that the majority of whom seem toffavji )s3os some obligation to the T&afik, would act on the part of the country in the same inde\ pendent manner as they should have done? I want to know nothing more. I believe, that three members of the,. Government either are, or have been, in the hands'af the Bank, and if they are not in its hands' now, they are out of its hands simply through obligation to the Bank, and thejf are not in a position to sit on those benches."