Evening Post. MONDAY, JANUARY 4, 1897. THE BANK OF NEW ZEALAND AND THE MINISTRY.

Evening Post, Volume LIII, Issue 2, 4 January 1897, Page 4

Evening Post. MONDAY, JANUARY 4, 1897. THE BANK OF NEW ZEALAND AND THE MINISTRY.

» — Toe Press Association wired that the Hon. Mr. M'Kenzie had said that he gave a "warning note" "that if the Bank people were going to dabble in politics the Bank mjght have to go into liquidation." The Ministerial apologist questioned the accuracy of the report. That has been set at rest by the various reports of the different local papers. There is no doubt that thii astounding statement was made. Nor is there any other statement in the Minister's speech that qualifies or attempt; to minimise the effect of this alarming " warning note." It is said that Mr. M'Kenzie was not speaking as the mouthpiece of the Government, because he said " he was not speaking for his colleagues ; he was only speaking for himself." Wo knew that the Ministry had peculiar views about Cabinet and Ministerial responsibility, but this attempt to treat the speech, not as aMinisterial utterance, but simply as the speech of Mr. M'Kenzie, is the most peculiar. A Minister cannot shelter himself in this way from the consequences of his utterances. Nor can it be said that the subject was new to him. It appears from another statement in his speech that the attitude of the Bank in the general election has been the subject of either communication or negotiation. Said Mr.

M'Kenzie :—" They were told by those who had charge of the Bank that they had told, their people to take no part in the politics of the colony, but the Government knew all about that." We would like to know if these communications between "those who had charge of the Bank" and tho Ministry were written or oral ? If in writing, we hope some member of the House will insist on the letters being published ; if oral, where was the conversation held? The gross impropriety of the Ministry corresponding with " those in charge of the Bank" about the attitude that " their j people" were to take in the general election only needs to be stated. But who are meant by " their people ? " Does it include directors, or shareholders, or customers ? Or is it confined to the officers of the Bank ? In the district that is honoured by having Mr. Platman as its representative there must be j half a dozen officers of the Bank. Is it I their conduct that has called forth this " warning note" and this threat of liquidation P 1$ the Bank to be liquidated because, say, half a dozen bank officials did not support Mr. Flatman? The offence, if offence it be, is certainly to be severely punished; shareholders, customers, depositors, holders of letters of credit, &c, &0., are all, to be, injuriously treated «nd the colony i lose perhaps a' million or so, because half a dozen bank officers did not support Mr. Seddon's nominee, iMr. Flatman! Poor I Bank ! It will be noticed that Mr. M'Kenzie •tttesj-in'his usual polite manner, that he does not ' believe " those in charge of the i Bank," for he adds, after their statement, ! " But the Government knew all about that. 1 ' What do the Directors say to this flouting of their assurance ? We need not reiterate what we said in our first article on the subject, that Mr. M'Kenzie has <no word of censure for the conduct of the Bank Directors in the Wellington eleotion. "We are not stating at this point that they did anything improper in supporting Messrs. Fisher, Hutcheson, and Wilson, but if it ia improper for the Bank's clerks to "dabble in politics," is it lawful for the Bank Directors ? The excuse offered by the Ministerial apologist is that Mr. Martin 'Kennedy and his colleague were greatly- interested in the liquor traffic, and that this was threatened by Messrs. j Atkinson, Menteath, and Stout. They could trust their affairs and their traffic to Messrs. Fisher, Hutcheson, and Wilson. No doubt there was an alliance between' the Ministerialists, the Liquor Party, and the Trade Unionists. We admit that, but the question is, is it seemly to see the Directors of the State Bank that is held up by the guarantee of the country actually canvassing for votes P Are the. customers of the Bank who are for the time dependent on overdrafts or discounts likely to flout the request of a Bank Direotor on a canvassing tour P The point of the " warning note " that concerns the Bank, and to whioh it is the \ duty of " those in charge of the Bank " to give heed, is— Can the Bank be forced into liquidation, and, if »o, by whom ? Is, in faot, the "warning note" of Mr, M'Kenzie based on any fact? ThU, ia the interest of the Bank and of tho colony, should be immediately set at rest. What customer can deal with a Bank that has this threat of liquidation hanging over it P What depositor can with confidence leave his money in its coffers if the Bank can be forced into liquidation? An illustration of this danger is furnished by the letter of Mr. F. Nelson George, a former Direotor of the Bank, which appears in another column. We admit that, to those who know thpui, not many pay heed to the statement! of Ministers, but can "those in charge of the Bank" allow this "warning note "to pass unchallenged P