The Press. THURSDAY, JUNE 9, 1898. THE HON. J. M'KENZIE AND THE BANK.

Press, Volume LV, Issue 10058, 9 June 1898, Page 4

The Press. THURSDAY, JUNE 9, 1898. THE HON. J. M'KENZIE AND THE BANK.

It is well-known that there are certain subjects which are to the Hon. John M'Kenzie like .red rag 3to a bull. They infuriate him beyond measure, and from the wild and random style of his speech, when he comes to deal with them, he appears to be temporarily beside himself. First and foremost comes the Press. He can never speak of the newspapers without spluttering with rage- He looks over the journalistic world, and nothing satisfies him. Even the most servile Ministerial organs bow down before him and praise up his land policy in vain. He still expresses his contempt for them in the polished and engaging style of language which he has made peculiarly his own. All judges, magistrates and other judicial officers also come under Mr. ban. He has referred from his place in Parliament to one legal functionary as "a fool of a magistrate," and to a district judge as " the tool of a Bank." It is hard to say which the Hon. John M'Keszje hates most —the Judges or the Press. He has a marked aversion to constitutional authority of all kinds. He deliberately set himself to work to humiliate the Speaker of the House, and what is really very saddening to relate, he succeeded in the attempt.

Yet another of Mr. M'Kenzde's betes noires, it appears, is the Bank of New Zealand. Our readers will not have forgotten the attack ho made on the officers of that institution in his speech at Geraldine. In his recent remarks at Palmerston South he made a very

determined onslaught on the institution itself. We are not surprised that the New Zealand Times has taken him severely to task on this subject. As to where the truth lies between some of Mr. M'Kenzie's statements and the Bank's denials we are not in a position to judge. We do not know, for example, what are the exaot facts in regard to the alleged overdraft referred to by Mr. M'Kenzie. His statements as to the country having only one Director out of five on the Board, and the shareholders having now no interest in the Bank, are manifestly untrue. We quite agree with our Wellington contemporary, however, in the view that it is grossly improper for a Minister of the Crown to go about the country, like Mr. M'Ken--zie, making statements calculated to damage the credit of the Bank, unless under the gravest sense of public duty, and after satisfying himself beyond a doubt of the absolute correctness of such statements. The present Government have placed the Bank of New Zealand on the shoulders of the taxpayers, and if its credit is wantonly injured by any member of the Government, the taxpayers will have to pay the piper. It is also perfectly true that the public will attach more importance to statements coming from a member of the Cabinet, because it is known that Ministers have sources of information that are not available to the public, namely through the President and the Government Auditor. If, however, any information was given to Mr. M'Kenzie through those sources regarding any individual overdraft, or, indeed, regarding the private relations of any customer with the Bank, we can only say that it was a grossly improper act, and .certainly calculated to shake the public confidence. It was, if possible, still more improper for Mr. M'Kenzie to make public such information. On the other hand, what shall be said of his conduct if, as is alleged, he wantonly spread about mere rumour—the current gossip of the man in the street —of such a nature as to affect, not only private credit, but public confidence in a State-guaranteed institution? The truth is that Mr. M'Kenzie has over, and ove ragain proved his utter unfitness to be placed in a position of public responsibility. He is about as much to be trusted in a post calling ■for the exercise of judgment and discretion as the traditional bull is to manage the affairs of a china shop with prudence and profit. Even his own colleagues must be trembling in their shoes, wondering what he is going to smash next.