WELLINGTON NOTES.

Press, Volume LII, Issue 9289, 14 December 1895, Page 8

WELLINGTON NOTES.

(By Telegraph.)

(FROM OUR SPECIAL CORRESPONDENT.) WELLINGTON, December 13. THE COUNCIL APPOINTMENTS. The long expected and much debated appointments in tbe Legislative Council have at length beeu made, aud, all things considered, the Premier may be said to have been reasonably moderate in his demands upon tbe constitution and the temper of the country. Doubtless when the time comes there will be laid before Parliament certain Stat* papers, in the nature of a somewhat contentious correspondence between an exalted personage and the people's tribune. It was so on a previous and memorable occasiou of a like kind, and it has for many months been an open secret that the Premier and her Majesty's representative have not been in cordial accord upon this important question. However, my purpose is uot now to discuss either the prerogative, the right of the people, or the limit of the Constitution Act, but to say something of tbe new Councillors. The Premier claims,l believe, that the new members are respectively representative of agriculture, commerce, mining, and journalism. This may be so; but at any rate it is a good line of argument for Mr Seddon to aavauce in support of hia appointments. How far the gentlemen who have been diatinguished can claim to be in the front rank ot the representatives of these great interests, your readers will readily determine. Agriculture then ia, on this occasion, represented by Mr F. C. Arkwright, a gentleman who owns an historic name and a farm in the Rangitikei district, where, among other enterprises, he has published a daily paper devoted to politicians of the " right colour " and the exaltation of Seddonism. Otherwise he ia a brainy, educated gentleman, once a Conservative member for MidDerbyshire in tbe British House of Commona. He should be an acquisition to the Council, and since he is now bestowed iv that safe retreat he cannot contest Rangitikei at the next general election against Mr John Stevenß, as waa generally believed to have been his intention. Commerce is said to be represented by Mr W, C. Smith, late member for Waipawa, and Government whip. He has been a faithful follower of his leader, and has hia reward. So far aa I know there ia no record of any special service to the country by this gentleman. Mr Richard J. H. Reevea, once member for Inangahua, may be said to be of the West Coast that is beloved of the Premier, and has for years been more or leas asaociated witb the mining interests, and the greatest of his public services was probably rendered when he resigned his seat in favour of Sir Robert Stout, ou that gentleman's return to public Ihe after the death of Mr Ballance. Mr Geo. Jones, of Oamaru, is the journalist of the new members, aud ia the proprietor and editor of the iocai Mail, which paper has done yeoman service locally for the Govern-, ment generally, and particularly for the Hon. John M'Kenzie, in whose district the Mail is said to have much influence. Perhaps the most that can be said in favour of these gentlemen is that as they are purely party appointments, they might have been worse ; though as to some of them adverse critics may ba found who will say they could not be much worse. Compared with some distinguished men who should adorn the Council, as Sir Johu Hall and Mr Rolleston, they are political dwarfs : but then it cannot be expected that the Premier will rise above the curae of party which governa all. He may admire the ability, ainglenesa of purpose, and tried public service of certain of our veteran politicians, and probably does at a safe distance, but what he wants are straight-out votes, and we may rest assured that he has got them.

REDUCTION IN BANK RaTES. I learn on undoubted authority that the Australian Banks, which it must in fairness be said some time ago led the way in lowering deposit rates, have now substantially reduced their advance rates all round, and that the rate for good,'mercantile discount will, frotaOto-day, witfl* these institutions, be 5 per pent. This is a great f*ct for the mercantile community, aud should lead to a gradual diversion of much capital to legitimate trade and other investments. Further, ie should lead to a reduction of the extraordinary rates that the Treasury continues to pay on the Savings Bank deposits, which still stand at 4 per cent, for deposits up to £200, and 3i for o?er. This is meant in some obscure way to assist Mr Ward's system of finance, but it muet be unprofitable for the country in many ways that are too obvious to need explanation.