THE HUTCHINSON CHARGES AGAINST THE BANK OF NEW ZEALAND.

Northern Advocate, 16 August 1890, Page 2

THE HUTCHINSON CHARGES AGAINST THE BANK OF NEW ZEALAND.

Mr Saunders, who usually supports the Ministry, speaking in the House last Friday, said, according to Hansard : — " I say thafc no man ought to have any right to sit on those benches, or to ad- - -""T;Wifir ibf^government of this country, and undertake to deal on our behalf with ', the Bank of New Zealand unrcss he was entirely free from all restraint, and all obligation to that Bank. I know it has been said to-night, and I rogrottod to hear it said, that the Bank of New Zealand would not use its influence improperly with any member of the Governi ment. I think that when once a man is placed in such a position as some of the members of this Government are admitted to bo placed in with regard to the Bank, ■ and become under a deep obligation in their transactions with the Bank, we can really hurdly know how far they are influenced by feelings of dependence or gratitude, nor can they ever be sure themselves that such feelings have no influence on their Ministerial duties. However, it is a very painful position, and I may illustrate what I mean by a circumstance that I think bears very strongly \ipon this case, and which I think will show you, sir, and this House, that I have the best reasons for saying the Bank of New Zealand is not above using its influence when in a position to do so. It is about eleven years ago that I thought myself a wealthy, affluent man one day, and the next day I had not a farthing left in the world. Unfortunately one of my boos was in some degree connected with the Bank, and in some degree under its thumb. I think it was on some occasion in this House arhen a question came before it in connection with the purchase of some of our district railways ; Mr Driver was in the House at the time, who was supposed to represent the Bank of New Zealand. "He came to nio knowing ray circumstances, how deep my sympathies were for my son, and how much that son was just then at the mercy of the Bank, and told me that the Bank wished me to vote in a certain direction. I said to him that if I had to vote in the direction the Bank wished, I would resign ray scat to-morrow, as I would never betray a constituency by pretending to represent it when really I only represented the Bank of New Zealand. The next day I saw about twenty notes come into this chamber. One was handed to me, and the rest were handed round the house. I opened mine, and found that it was a message to the same effect, that the Bank wished rue to vote i in a certain direction, and I never felt so much humiliated. I sat down to consider whether I ought to resign mv seat or not, but I never considered for a. moment whether I ought to obey that note or not. This shows in the most practical manner that the Bank is not above using its influence. If it was worth their while to stoop so low for my insignificant vote, is it likely that they would bring no influence to bear on Ministers, who could put hunoVods of thousands of our money into their ha:.. ls ? How unlikely then is it that a Government, the majority of whom seem to have been under some obligation to the Bank, would act on the part of the country in the same independent manner as they should have done P I want to know nothing more. I believe that three members of the Government either are, or have been, in the hands of the Bank, and if they-are not in its hands now, they are out of its hands simply through obligation to the Bank, ' and they are not in a position to sit on those benches.