AMALGAMATION.

Mataura Ensign, Volume 17, 9 October 1894, Page 2

AMALGAMATION.

TO TBE BDITOft Slß,— The story of tbe banks so doubt is a sad one— sad to thiiik the Government felt it necessary to prop up the Bank of -New Zealand to the tbe tone of L 2 000,000. sterling —7 figurea—a big prop, but only * sufficient to meet tbe requirements of the' bank ; or in other words, a prop sufficiently atroDg to keep the bank, fiom tumbling over. Bnt no sooner iB the prop applied to the Bank of New> Zealand than theje is another bank ready to , avail itself of its support by way of amalga* mation, said by some to be a very good thing for the colony. Strange, amalt(amatisn had no goot qualities before the L^OUO.WO guarantee, or if it bad it must have been like tbe education that entirely neglects some people. Hut if the prop is only., sufficiently strong to hold up tbe Bank ot New Zealaod, how will it bear the weight of another pressing on it ? Or have the two great institutions made up their mind* like . true lovers to fall and die together ? The. . Colonial Treasurer m9y argue that amalgamation would benefit the country; and the :» L2,000,0U0 sterling is sufficient to meet theexigencies of both b*oks, theo why did the Government commit tbe country to more than was necessary to mcc. the requirements of the Bank of New Zealand 7 'a here is no ~ ooubt tbe country commended the Goveirtt* < 5 ment for the manner in which they came to tbe assistance of the Bank of New Zeslaad i and for tbe prospect of a State Bank, bnt will the came feeling permeate the com* munity should the Government pledge Wfe colony's credit for ether institutions whether doubtful or not ? Oertaioly cot 1 Let the Colonial and as many other banks as wisfc; •■> amalgamate if ttiere is any benefit io it, bat th i Bank of New Zealand aod its ramifications are quite extensive enough for a State Bank. I bope the amalgamation of toe Bank - of New Zealand with any other w dead and... buried, and that tbe Premier and Colonial Treasurer will kneel on its gTave and pray it may never have a resurrection before tbe country is freed from the L2,000,00Q guarantee. Shareholders (jutercsted parties) in both Houses mny bring np the question of amalgamation again, es wherever the car (Wt* a is, there will the ravens be gathered together. But thecountry will have something to lay on it.— l am. etc.; ' ' K. 3. MOJJLL. . . Batt Gore, Octobtr sth, 1894,