The Hastings Standard Published Daily. WEDNESDAY, OCT. 14, 1896. THE MINORITY REPORT.

Hastings Standard, Issue 145, 14 October 1896, Page 2

The Hastings Standard Published Daily.

WEDNESDAY, OCT. 14, 1896. THE MINORITY REPORT.

For the cause that lacks assistance, For the wrongs that need resistance, For the future in the distance. And the good that we can do.

The member for Patea hus brought clown a minority report in connection with the Banking Enquiry. Needless to say the report is entirely his own, and from his point of view a very able one. Of course it is marred by political bias, for Mr Hutchison makes a labored effort to incriminate the Government. It would be idle to expect that the member for Patea was pleased with being burked during the inquiry ; nevertheless it may be admitted that many of his questions which were ruled out of order were quite relevant, and the stupidity of evading these questions must be registered against the Government. Even this critic of the Government is obliged to admit that " The evidence before the Committee' justifies the conclusion that the Colonial Treasurer was not acquainted with the treatment that was being arranged by the two banks with regard to the accounts in which he was personally interested. He considers he has reason to feel grieved. This would imply that he expected better treatment, and possibly he had a right to so expect." The last sentence displays the bias of the man, for it is only political animosity that would so interpret evidence. The Hon. -T. G. Ward said he had reason to feel grieved at the treatment he received, and when we take into account the trouble and misfortune he has endured since, the statement does not appear unwarranted. It does not, however, lend itself to the interpretation placed upon it by Mr Hutchison. The generously inclined will, we think, be ready to believe that Mr Ward was not considered by the Banks when arranging their affairs, and that hi- did not inllucnc-e them or arrange with tlitni lot aifV special treatment. Mr Hutchison's rtpon is the strongest evidence we have s>o far bad of Mr

Ward's guiltlessness in this unfortunate banking aftiair. The political side of the inquiry will be to furnish us with another phrase for current use. " Not in the order of reference " will serve many purposes in every day conversation.* With respect to the future of the Bank of New Zealand, Mr Hutchison expresses no opinion as to the ultimate result, whether the colony will come safely out of the deal. The report of the majority could only say that subject to the present price-level of produce being maintained and efficient management no loss would be incurred. Mr Hutchison agrees with the other members of the Committee that it would be better to dispense with the services of Messrs Watson and Mackenzie. At the caucus meeting of the Ministerial Party on Saturday there was an expression of opinion that the two gentlemen who will suffer by the scheme of reorganisation should be compensated. It is an extraordinary proposal at any rate so far as Mr Mackenzie is concerned, for his engagement with the- Bank of New Zealand was for three months, without any fixity after that period. Mr Watson, the president, may have to be compensated, for his appointment was for ten years subject to good behaviour. The idea of compensation does not square with the report of the committee, for it was stated in that report that thejColonial I Sank was mismanaged, and that the directors and officers of the institution were responsible. To compensate men who are blameable for mismanagement is a queer way of dealing out justice. We see in Mr Hutchison's report all the elements of further trouble in the near future. In Parliament and in the Supreme Court the hanking business will be fought out, and so far as the Bank of New Zealand is concerned, the effect must be to force that institution into liquidation. It would have been very much to the benefit of thu colony had it wound up its affairs in LSI) I, at any rate subsequent events support that view.