THE BANK OF NEW ZEALAND.

New Zealand Herald, Volume XXV, Issue 9182, 11 October 1888, Page 6

THE BANK OF NEW ZEALAND.

TO THE KDITOIt. Sir, —At the present time almost everyone is engaged in blaming the directors and the Into general manager of the Bank of New Zealand, but it seems to me that there may be something bo be said on the other side. 1 am confirmed in this opinion by reading in your issue of to-day the report of the meeting in bankruptcy of Mr. Charles Gould, of Waitoa. That gentleman has, by his own showing, lost 110 less a sum than £26,000 in eleven years. Many others throughout the colony have been similarly unfortunate. Now, had one-half of that sum been advanced by the Bank to Mr. Gould, it would have been a fair, legitimate, and reasonable piece of business, and yet would have resulted in a loss to the bank of £13,000. Mr. Gould does not appear to have had any advance from the Bank, if he was a client of theirs ; but no doubt many of the losses made by that institution have arisen through the advances made, were as safe and as much within the bounds of legitimate banking business as would an advance of £13,000 to that gentleman have been. Surely those who have had the guidance of the affairs of the Bank cannot be held responsible for the general collapse in business throughout the colony, consequent on the cessation of the borrowed millions, the shameful extravagance of the administration of Government, the disgraceful mismanagement of our railways, ?"d other ills from which we are suffering.—l a &c., William Rattiuk, VL Queen-sb. October 9, 18S8.