SIR ROBERT STOUT AT NEW PLYMOUTH.

New Zealand Herald, Volume XXXIII, Issue 10111, 21 April 1896, Page 5

SIR ROBERT STOUT AT NEW PLYMOUTH.

(BT TELEGRAPH.— PRESS ASSOCIATION.] Nkw Plymouth, Monday. Sir Robert Stout delivered a political address to-night to a large audience, and was well recoivod. Hie speech was in many respocte similar to that delirorod at Haweru. He dealt more fully on the banking legislation. He said that in 1891 Parliament was assured by the Government that the two millions guarantee would be amply sufficient for the purpose of assisting the Bank and saving the colony from a financial crisis. In 1895 they said further assistance was required in ordor to save the two millions already guaranteed. In this way tho Government) had kept up a system of telling half truths which deceived Parliament and the people There was a clause in tlu banking legislation which no one but the Government understood at the time, giving authority to purchasing tho bank, and to make certain concessions t3 certain clients of tho Colonial Bank. The way in which the clause operated was first pointed out by Judge Williams, and it was a revelation. Sir Robert hoped that the names of the favoured clients in tho "C" list who had their indebtedness forgivon them by the Bank "of New Zealand would yet be made public. If any of such clients were members of Parliament, then the banking legislation of last session was the most corrupt ever passed in any country. He criticised the new policy of tho Government, stating that thore was really nothing in it. State fire insurance was ridiculous, the abolishment of distraint for rent a farce, and the abolishment of special juries unwiso. It was absurd to say that the Govornmont) by legislation could fix the rate of interest. If Parliament fixed the rate at 2 per cent, money would be withdrawn from die colony and taken elsewhere. They could no more fix tho price of money than they could the price of butter or any other product. The now policy of purity of administration could best bo secured by means of returning good men to Parliament, and the referendum and elective executive. At the conclusion of his speech a voto of thanks was carried by acclamation.