The Colonial Treasurer and the Bank of New Zealand.

Cromwell Argus, Volume XXVI, Issue 1323, 28 August 1894, Page 7

The Colonial Treasurer and the Bank of New Zealand.

On Wednesday, 15th inst, in the Evening Dress, there appeared an article The Public Debt and Private Interest,” in which it was argued that no gentleman occupying the position of Treasurer should, in his private finance, be otherwise than thoroughly independent of all financial institutions. The writer proceeded : It may be looked on as a minor matter that one of the Ministers is a solicitor of the Bank of New Zealand, and, as such, no doubt, not unremunerated, and that the majority of them are said to have a special interest in its concerns over and above that which we all of us resident in the colony have. The great matter, however, to be seen is that the Treasurer should be completely and absolutely independent; that he should be a man altogether removed from the risk of any financial pressure being brought to bear on him. S[leaking in the House on Thursday evening, Mr Ward made a personal statement, in the course of which he asserted that the article had been inspired by a gentleman on the directorate of the Press, and also holding a high position in one of the foreign banks. He continued : It is quite true that in ihe recent banking legislation the duties

attaching to my office made it incumbent on me to introduce in this House a certain bill, but that bill had been previously agreed to by my colleagues. It met with the unanimous approval of this House, and it was further practically received with the unanimous, or almost unanimous endorsement of the country. While the highly important question involved was yet unsettled, no one in this House ventured to take the responsibility of directly opposing what was done. I think that Iron, members on both sides of the House will agree with me, however, when I say that it was but natural in the ordinary course of things that political capital should ultimately be made out of it, but that it should be made the occasion for personal malice 1 was not prepared for, nor, indeed, would few right-thinking men in or outside of this House have expected it Now, as hon. members know, I am a business man. I have not been an idler in this country, and I think I may fairly claim that I have helped to develop its industries as much as any other single man in the colony has done. The firm to which lam attached ranks with businesses of the first order in the colony. I myself have been singularly successful in business. From time to time I have had as a business man to make my banking arrangements, and 1 have always made them in my own way and carried them out properly, with satisfaction to myself and with profit to my banker. Let me say, Sir, that there is no such thing as compliment in connection with this matter. Whatever I have agreed to do in this respect I have agreed to pay for. That being so, I think I could, in the ordinary course of things, treat with contempt such insinuations as have been made. There is, however, something more underlying them. It fortunately happens, Sir, that as regards the Bank of New Zealand I am not indebted, nor in the business with which lam associated, to it. lam not in any way personally concerned in the bank otherwise than as a colonist, and as one who has considerable stake in the financial stability of this country. Sir, I shall take leave to conduct my private business with whom I please, feeling sure that my friends will believe that it is honestly conducted. As for my public action, I confidently reckon on the sympathy of the House when I represent that until something personally improper, or at least suspicious, is shown in my public conduct, my private affairs, and those of other hon. members in this House, are not fit subjects for comment.