THE COLONIAL TREASURER.

New Zealand Mail, Issue 1263, 14 May 1896, Page 30

THE COLONIAL TREASURER.

New Plymouth, May 12

The Hon J. G. Ward addressed a large meeting this evening, the Mayor presiding. Mr Ward, in opening his speech, said that he had received a copy of a cablegram intimating that tho reception of the addross by Mr E. M. Smith to the Iron Institute in London was good, and that the prospects of tno floating of a company for smelting iron sand in Taranaki wore bright. (Cheers.) Mr Ward went on to reply at considerable length to Sir Eobort Stout's criticisms, and defended the action of the Premier in accepting a position on the Realisation Board. It had been asserted, ho said, that the whole of the banking legislation was the result of a doep-laid schemo for the private benefit of members of the Legislature. He would speak for himself, as far as the banking legislation was concerned, and let others speak for themselves. When the matter first came beforo the Government confidentially, they decided that it was best in the interests of tho country that tho Bank of New Zealand should not bo allowod to go down. The Government had been blamod for not being able to grasp in a short time tho truo position of the Bank of Now Zealand in all its branches all over the world. That was an impossibility. Ho read a communication from the directors of the Bank of New Zealand, stating that it was imperatively necessary that they should purchase tho business of another bank. It was not the Colonial Bank that was first endeavoured to bo attached to tho Bank of New Zealand, but it was another institution which refused to join that Bank. That had never been told to the Colony before, and it was a complote answer to the charge that the joining of the Colonial Bank with tho Bank of Now Zealand was a deep-laid scheme from the very beginning. He gave them his word of honour as a man that no member of the Ministry know tho proposals between tho banks in connection with any account. There was no arrangement made with any member of tho Government about placing any account on any list. Tho imputation was grossly untrue. At tho close of tho addross, a vote of thanks to Mr Ward and confidence in the Ministry was proposed. An amendment of thanks only was also proposed, but the amondmont was lost, and the original motion carriod by a largo majority. Threo cheers wero given for Mr Ward.