WHAT THE PAPERS SAY

Evening Star, Issue 15223, 30 June 1913, Page 1

WHAT THE PAPERS SAY

It is evident that the development of settlement and industrial purauitA in New Zealand lias outstripped the banking facilities, and if the Bank of New Zealand, wishes to keep in the foiefipnt it ought to be in a position to meet all reasonable requirements of the public. It may be advisable, therefore, that the Government should renew their guarantee of one million. If the shareholders, however, materially increase the ordinary share capital, as we think they ought to do. then they would be fairly entitled to an increased representation on the directorate. The State's interest would be safeguarded by the Government reserving the power nf veto, and the supervision exercised through the medium of the Government auditor-. Chiistehurch 'Pres.s.' * # * Tire world knows that the axiom of the average Trust is: ''Might is right." Will the workers favor this Syndicalism, which will not smell any sweeter for airy other name ("Social Democracy" or what-not)? If they vote for such crudity, they will gladden a few organisers, but they will in: jure their own welfare. Labor is discovering in older countries.that it is more beneflcral, after all, to put trust in prudent leaders, who do not rely on magic arts, than in men noisy with promises which cannot be .fulfilled in this world of limitations.—Wellington 'Post.' * * * High, prices for land have proved a curse wherever they have prevailed, and they are at present a bigger curse to Tcranaki than the hlackbenies and all the jfests put together.—Taranaki ' News.' i.* * * I If the Opposition can recover from their utter disorganisation of last session and tho recess, and are governed by a proper .spirit, their criticisms of legislation should be of much value to the country.—Timaru 'Herald.' * # * Clearly the State vrhrsh found £500,000 of. capital and provided a guarantee of £2,000,000 to, rescue the Bank of NewZealand from its admittedly hopeless position of 1894 has a right, to demand that those who secure new shares should pay for them at their market value. Future developments in this connection will be awaited with interest. —Southland 'News.' * * * There is a growing volume of public opinion in favor of State banking—not the State banking which the cynics associated with a bale of paper and a printing press —and if the Bank of New Zealand were [ nothing more to the people than a place for the deposit of the public funds and the transaction of the public business there very soon would be an insistent demand for a really national bank. This will come before many years have passed in any case, and tho experience of the last two decades will secure it a much better reception than it would have obtained in the days when the whole commercial community was held in bondage by usage and tradition. —Lyttelton ' Times.' * ■*• # Minisers break down under the burden, and increase of Ministers is constantly being urged, but if there were a hundred Ministers they would all bo over-worked if the system is allowed- to -continue. Properly organised capable and respotviblr".' rffkials, awl the elimination,of political control from public works would greatly relieve the situation. —Auckland'Herald.' * * * If a call came to New Zealand from India it is inconceivable that the response would be less enthusiastic than that which was given to the call from South Africa. That being so, why ehorrld the important and difficult work of organisation be left until the call is received? Common sense dictates that preparation far the call should be made, and tho potation of India is quite sufficient to justify the scheme put forward by Mr Allen on lines which had previously been suggested by Mr Seddon and Sir Joseph Ward.—Southland 'Tiroes.'