The Press. THURSDAY, JULY 2, 1896. THE ENQUIRY FARCE.

Press, Volume LIII, Issue 9458, 2 July 1896, Page 4

The Press. THURSDAY, JULY 2, 1896. THE ENQUIRY FARCE.

The great Banking Enquiry Farce has ! now reached a stage which would be the acme of humour if the issues were : not so serious; The Premier has set up a Committee of Enquiry, whose principal object is to try Ministers for their action in connection with the Banking legislation. This august » tribunal is composed at present of two of tho Ministers whose conduct is in question, and three of their supporters. Should a motion, of which Mr. Seddon has given notice, be carried, four more Ministerial supporters and Mr. Geoeob Hutchison will be added to it, while if Mr. Hutchison should decline, as is not unlikely, we suppose his place will • be filled by another Ministerialist, and then we shall have a Committee of two • Ministers ..and eight Ministerial sup- ■» porters to try the question,whether the conduct of Ministers in connection with the most important legislation of the present Parliament entitles them to further confidence. But even this packed juryarenottobekepttotheplain simple issue which the country wishes to have settled. They are to burrow

into ancient history. They are to ro6t among the banking transactions of men now in their graves. They are to find out what amounts have been written off accounts in the Bank of New Zealand Since January Ist, 1888, —between six and seven years before the colony was called upon to guarantee a sixpence on its behalf—and to ascertain "what led to such writing off, " and to deal with all such other " matters as the Committee deem " necessary or expedient." Mr. Sedbok ought surely now to be satisfied. He has a Committee of himself, his ablest colleague, awl his pledged followers to enquire into the conduct of his Ministry, and he has an order of reference so wide that that Committee may distract itself with " red herrings " from the present data to the end of the session. More effective means for never getting at the truth of the matter could not have been devised. A3 Mr. Beli. said during the debate, it was the disclosures at Dunedin that made the country demand an inquiry. The public do not want to know what happened in 1888, but simply how it came about that the Bank of New Zealand purchased the business of the Colonial Bank, and whether the Government were deceived before they brought down their banking legislation. We may add thai they further want to b8 satisfied that the present management of the Banli is in proper hands. The Bank of New Zealand of 18S7 and 1888 is now an effete body, passed and done with. An entirely new institution has been constructed in its place by tha State, and backed up by the State guarantee. It is this Bank of New Zealand witl which we have to deal. It is the action of the Government in legislating on behalf of this Bank anc! the Colonial Bank that concern. , the Parliament of to-day—not whai was done by Directors, some o: whom are now dead, at a time whei there was no Government guarantee and no talk of a Government guar antee. Bnfc Mi , . Bern,, we believe, hi the nail on the head when he said thai the intentions of the Government wen to begin at the beginning and never tc reach the end. It evidently suits then far better to delve into ancient histor than to have daylight let into th< transactions of to-day. Some people will say that Captau Busselii and the other members o; the Opposition origiually nominated were wrong in withdrawing from th< Committee. They were in a positioi of considerable difficulty, and we our selves are not prepared to condenu them for the decision at which thoj arrived. They simply declined to bi made a party to a so-called " inquiry , which they knew to be a mere sham and which, under no circumstances could be regarded by the country ai satisfactory or conclusive. It must bi remembered that in the case of a Par liamentary Committee there can be n< "minority report," as with a Roya Commission. The majority on th. Committee " rules the roost" through out. The Opposition members on thi particular Committee, as proposed b; the Premier, would have had onl; three votes out oE ten. The Minister would,! no. doubt, have led . th> evidence. If an Opposition membe had palled for any particular witness and the Premier chose to object, i would have been put to the vote, am with his majority of seven to three it would soon have been decided tha the witness should not be called. Ii the same way when the report came to be considered, it would be put claus by clause to the Committee. Th Ministerial majority would be able t carry any report they liked. Th Opposition could only vote against if but it would be carried in spifce o them, and it would be presented to th House as "the report of the Com mittee." . It would be embalmed i the archives of the House, and n doubt referred to for all time b "Liberal" speakers as a triumpb.au vindication of Mr. Sedboh, Mr. War and everybody concerned. No, w cannot blame Captain Russelt, and hi friends for refusing to be led into sue a trap as that. Wβ need hardly say that w sincerely regret the decision whie has been arrived at by the House. Th Government had a magnificent oppoi tunity to set themselves right an New Zealand right with the v/orld. ] they had said, " Wβ have nothing t reproach ourselves with in this matter select the raosb impartial tribunal yo , can find, and let them sift it to th bottom" —that would have been th action of men who had nothing t fear, and it would have been a\ plauded to the echo throughout th country. As it is, the clout which has arisen in the minds of tb people will be intensified instead c being removed. And we very much feo that this inquiry will do no good t the Bank. Business men will ask wh should the accounts of. clients of th institution, especially of those wh have no connection with politics, I overhauled for a period of eight year back, even ;if amounts have bee written off those accounts ? There i only one good thing so far as we ca see that will come of the preaer trouble. It will. effectually kill th notion of a State Bank in the mind of all thinking people. The mac visableness of Government havin, anything whatever to do with barikin has now been amply demonstrated.