THE BANKING LEGISLATION

Evening Star, Issue 9472, 17 August 1894, Page 1

THE BANKING LEGISLATION

THE TREASURERDEFENDSHIMSELK

[From Our Parliamentary Reporter,]

WELLINGTON, August 17. Another surprise—this time not by way. of legislation—was sprung on the House last night, when the Treasurer defended himself frorn tbit aspersions cast on him by a leading article published in the' < Evening Press.’ The article in question was printed in Wednesday’s issue, under the heading of ‘The Public Debt and Private Interest.;’ The writer, after referring to the legislation passed in the interests of the Bank of NeW Zealand, proceeds to say that no Word has been said by the Opposition intimatingeven a suspicion of the existence of illegitimate motives on the part of any of •those.who have been the main promoters of these meastmfej From a parliamentarypoint of view their magnanimity does them credit, Outside public opinion, however, may force upon them presently the conclusion that it is time to throw down the gloves. If matters of such gigantic moment to the whole future of the colony are entrusted to the oare of Ministers as to their guidance, not only of our public but of much of our private finance; it is time'that we, all of us, did our best to see to it that personal questions should be altogether eliminated; that no gentleman occupying the position of Treasurer should iu his private finance be otherwise tbau thoroughly independent- of all financial institutions. It may be looked on as a minor matter that one of the Ministers is the 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 as residents in the colouy have. The great matter, however, to be seen is that the Treasurer should he 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. Whether the present occupant of the position is or is not would be a most necessary and most legitimate subject of inquiry on the part of the House. On the House meeting after the dinner recess,

The Hon. J. G. Ward rose and said: I desire to make a personal statement to the House, and in doing so I feel that I owe an apology to hon. members for occupying their attention with a matter which is trivial, and indeed contemptible. As the integrity of a Minister of the Crown, possessing the confidence of this House, is at stake, I do not choose to entirely pass the matter over. Hon. members will be prepared to hear that I refer to myself in connection with the insinuations conveyed by a newspaper in this town to the effect that the motives for my public action want looking to. It is true that the paper is not an influential one and is very little read. Some of its owners are, however, leading members of the Opposition. I should like at once to say that a gentlemen whom I highly esteem, and who occupies a seat on the Opposition benches Mr H. D. Bell was kind enough to tell me personally that he had no sympathy with [such articles —that, in fact, he disapproved of them. Upon the directorate of the paper there is an officer occupying a high position in one of the foreign banks. Since the statements to which 1 have alluded appeared in that paper I have made inquiries as to the editor, and I am glad to be able to tell the House ihfi.tr I believe him to be a straightforward and honorable man, and one who, I believe, would not willingly do any member of this House or anyone outside of it an injustice. I therefore assume, sir, that the articles to which I allude—and one in particular—have been inspired. I am not going to copy the example set me of imputing unworthy motives. I will assume that those who inspised the articles were actuated by patriotic motives ; but I think my friends in this House—of whom, I ani pleased to say, I have a number, even amongst my political opponents and, indeed, any generousminded gentleman, will agree with me that such insinuations ought not to bo made without some ground for them, and that something wrong in the public conduct of a servant of the Crown should first be proved, or at least thereshould be the gravest cause for suspicion shown before corrupt or unworthy motives are suggested. Now, sir, it is quite true that in the 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 hon. 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 of personal malice I was not prepared for, nor, indeed, would' few rightthinking 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 individual in the colony has done. The firm to which I am 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 I have always made them in my own way and carried them out psoperly, 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, as regards the Bank of New Zealand, that I am not indebted, nor is the business with which I am associated indebted, to that institution. I am 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 wish to say here that I feel there was no call upon me to have said even so mnch as 1 have said, but I wish now to say specifically that I will in future disdain to notice any such paltry insinuations, particularly when one knows the source from which they emanate, which are discreditable only to those' making them. I shall, further, take leave to conduct my private business with whom 1 please, and as I please, feeling sure that my friends will believe that it is honestly conducted. As for my public action, I would say that that is a legitimate matter for public criticism, but 1 confidently reckon on the sympathy of the House when 1 represent that until something personally improper, or at least suspicious, is shown in my public conduct, my private affairs, and those of other hon. meibhers in this House, are not fit sub- 1 jects for comment. I wish to say, in conclusion, that if these people, who, in my opinion, are hot in a straightforward way making these incriminatory attacks upon myself think it is a manly or proper, course for them to follow they; are quite: at liberty to do so. I now simply wish: to, say before this. Mouse that 1 have a remedy. That remedy is not to go to a hews-'

paper and there cover up my identity, but it is to take an opportunity in this House, at a fit and proper tithe (qmake ‘such statements as I think proper/ dfed having made those statements I shall be prepared to go'oufoide on to platforms, in .this colony aUd reiterate them. That is;a fair ahd straightforward way to do Jt* and for ft man. occupying a public position in this colony who has had a most onerous, difficult, and arduous task to perform, such as no bon. member of this House, and myself among the number, wquld willingly undertake, and having to the best of his aDilitydohe what he thought best in the interests of the country, to then find himself subjected to these unoalled-for, improper, ungenerous, and ungentlemanly attacks—it is not, 1 say/a position iny which any hen. member should be placed. But if he does find himself placed In such apcaition, it is then his business to come there in a stPfdgbtiorward manner and teli the House what Ms feelings are upon the matter, and ask bon. members to sympathise with him in the position in which he finds himself placed. Mr Bell also desired by the indulgence of the House .to make a personal explanation. It had been suggested in a former debate that be was a proprietor and had the direction of the newspaper to which the bon. gentleman had referred, but he took so nptice of the insinuation, at the time, because he thought it was not a matter that affected the House at all But the matter Having now been mentioned, he desired to state that he was not now and never was in any way concerned in the direction of that paper 3 nor had he, either directly or indirectly, ever suggested or been consulted as to any article or paragraph or anything else that had ever appeared in its columns. He was simply a shareholder, and not a very largeshareholder at that, and the only interest he had in the paper was that certain moneys of which he was trustee had-been lent by him to it. He desired to add that he entirely agreed with what the Treasurer had stated. He had no sympathy with under> hand attacks on the personal affairs of hon; gentlemen, whether as members of the House or as members of the Government* and he wished to denounce such attacks in just as strong language as the Treasurer had done.