BANK OF NEW ZEALAND

Lyttelton Times, Volume CXXIII, Issue 15968, 29 June 1912, Page 12

BANK OF NEW ZEALAND

MR BEAUCHAMP'S APPOINTMENT. STATEMENT BY SIR JOSEPH WARD. [From Our Correspondent.] WELLINGTON, June 28. An article in a southern newspaper regarding tho chairmanship of tho Bank of New Zealand and Mr Harold Beauchamp was dealt with in the House of Representatives to-night by Sir Joseph Ward Sir Joseph read an extract from a letter by Mr Beauchamp, as follows: "This wns no doubt due to the attitude which I have always assumed as chairman of the Bank. In other words, I would not at any time allow my own opinions to bo subservient to political exigencies." The article, Sir ■loseph Ward added, had concluded as follows: —"The statement made by Mr Beauchamp, that the Government decided not to re-appoint liini and that ho had incurred their opposition because he did not allow his own opinion to be subordinated to political exigencies, has never, so far an wo are aware, been refuted." " I take tho opportunity of refuting it," Sir Joseph said. " I have nothing but respect for Mr Beauchamp, but when a statement is made that tho Government in any way interfered with Mr Beauchamp or any other director, I give it an unqualified contradiction. Throughout Mr Beauchamp's chairmanship, when any man communicated with me about the Bank, he got one reply, that I would not interfere with the Bank. I have never spoken to Mr Beauchamp concerning his public opinions and I never asked any other director to speak to him regarding his public utterances. What did happen? After Mr Beauehamp's first speech, at which a good deal of criticism was levelled, ho was re-appointed. A further speech was delivered by him, and no exception was taken to it by me, but throughout the country at the general eloetion the speech was used in many quarters undeniably for political purposes against the men standing in the Liberal interest. The Government did not drag tho Bank into the political arena, but kept it free. lam not commenting on the right of anv man on that Board to do or say what he thinks proper. There was no attempt to interfere with him, but when the time arrived for the chairman's appointment I asked the acting-chairman if anv communication had been received from Mr Beauchamp. Nothing had been received, and as a matter of fact a majority of Ministers wero not favourable to his re-appointment. Before a decision was arrived at I so informed the acting-chairman. When Mr Beauchamp's letter was received I acknowledged the ability with which he had carried out his duties.'