THE BANK OF NEW ZEALAND.

Press, Volume XLVIII, Issue 14523, 27 November 1912, Page 8

THE BANK OF NEW ZEALAND.

Our Wellington correspondent informs us of an important change in the directorate of tho Bank of New Zealand. Mr J B. Reid has resigned, and Mr Harold Beauchamp, formerly Chairman of the Bank, has been appointed in Mr Reid's place. This affords a way out of a difficulty which had presented itself, in view of Mr Martin Kennedy's approaching departure to England. It was felt that there was no member of sufficient experience and outstanding ability to tako his placo as Chairman, but if Mr Beauchamp succeeds to the position, as ho probably will, there is no doubt ho will dischargo tho duties satisfactorily, as ho did up to the time of his resignation. Mr Boauchamp's politics are not those of tho present Government, but ho had the courage to speak out plainly when ho saw a tendency to public and private extravagance, and in this way brought himself into some disfavour with the Ministry who originally appointed him. His resumption of his old post will, we believe, be a Bdurco of satisfaction to the public. Wo hope also that it will put an end to the differences stated lately to exist among members of the Board. Such differences aro hardly likely to conduce to efficiency in the working of tho institution, and aro apt to weaken the confidence of the publio*

To-day's war news indicates that thero is s-ITi a lull at Tchataldcha, but fighting at Adrianople seems to be very fierce. Tho Bulgarians claim to havo repulsed a Turkish sortie, but, according to tho "Daily News'' correspondent, tho Turks, defending desperately, drove the Bulgarians from a suburb in which thoy had established themselves. Tho Servians who havo joined tho lx>siegers aro handicapped by inferiority of gun power. Cholera is reported to havo broken out among the besiegers, Tho Greeks havo occupied another island in tho -Egcun, and details of tho battle of Vladpva, in Albania, stato that they defeated 20,000 Turks. Tho return te Malta of tho British battle squadron that was recently despatched in a hurry to Turkish waters is interpreted to mean that tho situation in tho Balkans is easier.

Tho death of Mr W. F. Monypenny, announced this morning, at tho comparatively early ago of forty-five, is a serious loss to journalism and literature. Mr Monypenny had a distinguished career as a journalist, and when ho died was in tho middlo of compiling tho authoritative biography pf Disraeli. This work is long overdue, for it is over thirty years sinco tho subject of it died. Lord Rowton, who had been Disraeli's private secretary, camo into possession of the statesman's correspondence, and it was thought ho would undortako tho task of writing tho "Lifo," but he did not do so. When it was announced a few years ago that Mr Monypenny would- bo tho biographer, surprise wns expressed, for it was not known that ho had any special qualifications for tho formidable and delicate task of telling tho story of tho most amazing career in modern British politics. Tho first s volume, however, was a great success, and tho second has been awaited with interest. lb was to havo been published, if wo remember rightly, early next year, and it is to bo hoped that Mr Monypenny left it fairly complete. Thero is still a third volumo to be written, and ther<j will bo a good deal of speculation as to whom tho task will be entrusted. Lord Haldano has been throwing somo light on tho making of Sir Henry Campbell-Bannorman's Cabinet in 1905. Tho now Prime Minister sent for him, and suggested one or two offices, but Mr Haldano (as ho then was) replied that ho would liko another office, ono that ho did not know much about, but "full of most fascinating problems." "What is that?" asked Sir Henry. "Tho War Office," replied Mr Haldano. "Is it full?" "Full!" exclaimed Sir Henry. "No ono will touch it with a pole." It is no wonder Sir Henry could get no one to tako it. for tho Boer War was still, a near event of tho past, and moro than ono Minister had failed to reform the War Office. So, to tho surprise of the nation, Mr Haldano, a Chancery lawyer, with little or no knowledge of war, went to tho War Offico, and did very much bettor than his immediate predecessors, and certainly bottor than might reasonably have been expected.

Last week we gave some particulars of tho new Labour daily paper published at Home, based on information contained in the "Daily Mail." A perusal of copies of the paper itsolf shows that tho "Daily Mail" was justified in its commendation of this latest aspirant to tho ranks of tho groat English'dailios. The "Daily Citizen" is both a mouthpiece of Labour and a newspaper. It frankly sets out to champion the cause of Labour, but its purpose is expressed with a moderation that certain colonial types of Labour agitators would do well to mark. "The 'Daily Citizen' is to fill a niche in British jqurnalisra. It is to be a newspaper, but more than a newspaper. It is to bo tho voioo of that hitherto almost inarticulate movement of work-ing-class thought and fooling which is represented in Parliament by tho Labour Party, and in the country by the innumerable efforts, suspicions, resentments, and claims which together mako up what is known aa Labour unrest. Our journal is to bo an organ of Trado Union activity, Labour Party policy, and Socialist thought." The "Citizen" is going to hit hard, but, if j we may judge from tho initial issues, I it ia going to hit fairly.

A daily papor oppressing tho opinions of Labour, and at tho samo time capablo of maintaining a largo circulation by tho completeness of its news services and the quality of Us literary side, is much needed in Great Britain, and tho "Daily Citizen" seems likely to fill tho gap. Lord Northcliffe, the famous founder of tho T, Daily Mail," who stands, for most of those things to which Labour is opposed, says, in a message to tho "Daily Citizen," that ho should like to see a representative Press in England. "Personally, I hopa to bo able to look at the Labou. world through. the 'Citizen' as

through a powerful lens," Among ' the many other messages wo may note that from Mr Arnold Bennett, tho woll-known'novelist, in which ho hopethat the papor will "teach the industrial classes their own power and how to use it with justice,"and that through tho serious political education of the masses, "Parliamentary elections may soon become something better than a dishonest appeal to ignoranco and stupidity." The paper, in its statement of its purpose, says it means to assist those reformers who "are not afraid to go on continuing to build the City of God in this world," and the Bishop of Birmingham supplies tho apt quotation from Blake: Wo t will not cease from mental strife, Nor shall tho sword sleep in our hand, Till wo havo built Jerusalem In England's green and pleasant land. This is tho aim of social workers of all parties, and if tho "Citizen" wanta a motto it could not do hotter than take this verse.