Parliament and President.

Hastings Standard, Issue 72, 20 July 1896, Page 2

Parliament and President.

THE £SOO FINE. A PECULIAR POSITION. [By Telegraph] [Special to Standard.] Wellington, This Day,

The House has made itself supremely ridiculous over the breach of privilege committed by Mr W r atson, the President of the Bank of New Zealand. The stand taken by the President in refusing to divulge certain information to the Banking Committee was no doubt an infringement of the privileges of the House, but that this was justified will be admitted by any one blessed with ordinary intelligence. In his responsible position, and knowing the effects of disclosing the affairs of customers, he took the only course open to him. Mr Theo. Cooper, who acted as counsel for Mr Watson, in his address to the House showed the position very clearly, and his argument on behalf of his client were most convincing. As he explained, the question at issue involved the very existence of the bank, if the information asked for was once given it would not only affect the accounts mentioned, but further accounts would be injured. Mr Cooper made it very plain to the House that to divulge the information sought to be obtained would imperil the position of the bank and would result in a financial crisis which would be disastrous to the colony. Parliament two years ago, and again last year, said that rather than plunge the colony into a financial crisis, the credit of the colony should be used to prop up the bank, and the same Parliament is now seeking to undo that work.

Mr Watson, at the Bar of the House, remained obdurate. He declined to accede to the demands of the House, and the outraged House of Representatives immediately set about to make itself look silly. With all seriousness and a verbosity in which the present House is singularly efficient, the proposal to fine the contumacious witness was carried. Although the penalty appears large the fine cannot be enforced. The gigantic efforts made by the House to assist its privileges and maintain its dignity reminds one of nothing so much as the ludicrous antics of a fox terrier chasing its own stump of a tail. If Mr Watson pays, the fine the- money will come from the coffers of the Bank of New Zealand, and that practically means from the colony, so that when Mr Speaker receives a cheque for £SOO Parliament will have successfully bitten its tail. j The Banking Enquiry -- now , reached a peculiar stage. It sec "« be in a tangle, and every st.-p taken 1 ' both Committees will be full A interest. - I