Beauchamp Again

Maoriland Worker, Volume 12, Issue 299, 22 November 1922, Page 4

Beauchamp Again

Mr. Harold Beauchamp, who loves the workers like the devil loves JIOI7 water, discussing the seamen's strike, reckons that "wages must come down." This is just the sort of bright and original thought one would expect from a banking "expert" who has lately hobnobbed with the ShylcckS; o£ Lombard Street. But we beg to draw attention to the fact that the Bank of New Zealand, over which Mr. Beauchamp used to preside, this year, declared a dividend of 14 per cent., and last year; in addition to a similar dividend, it* distributed £1,126,000 ot bonus capital, two-thirds, of which,' :was handed to the private shareholders for NOTHING. In the circumstances, it seems to us more reasonabel to declare that "interest must come down," but to expect tbat fron*Mr. Beauchamp would be as sensible as expecting him to commit suicide. The job to reduce interest can only be done by the workers, whose wages are being cut to pay.interest to the usurers. -