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Otago Daily Times, Issue 12446, 1 September 1902, Page 4

THE SAVING BANKS' PROFITS. The Dunedin Savings Bank's Profits Amendment Bill No. 2 is intended to take the'place of Bill No. 1 with a similar title introduced by Sir Joseph Ward, the latter having been held to be a local Bill. The substituted Bill takes wider scope than its predecessor in that it includes the Dunedin Technical School and the proposed Free Public Library in the definition of institutions: to which grants may be given 111 any future distribution of the Savings Bank's profits. We are assured by the senior member for the city, Mr J. A- Millar, that No. 2 Bill in no way prejudices the grant which the Savings Bank Trustees have decided to make to the University, and 'this being ,so there 'can be 110 possible objection to legislation which will relieve the trustees from the embarrassing position of having funds steadily accumulating which they are unable to devote to praiseworthy objects of an educational character. There are, however, two points in connection with the powers proposed to be given by the Bill which require to be considered. The first, is the necessity of providing some effective safeguard against the possible abuse of power by the trustees; and the second, the inclusion of other worthy public institutions among those to which the trustees are to be empowered to make grants, of their, surplus funds. That there is absolute necessity for protecting the Savings Bank against those - who ought to be the first to guard its interests was made sufficiently obvious when the proposal to make a grant to the

University was brought before thetrustees. It is. probable that the four members of the Trust Board who sup- • ported the iniquitous proposal to liqui- . date the Savings Bank, in order that they might be enabled to scatter the" whqle of its accumulated profits, now ' realise the reprehensiblehess of their action; but provision should certainly be made whereby no bare majority of the trustees should have the power to. carry such a resolution. Wo trust, to . see some suitable provision incorporated in the Bill by which the existence of the Bank may be preserved so long as it is of such service to the community as it undoubtedly is at present. Wo are quite convinced that the public have no sympathy with the proposal to close the Bank in order that an immediate division of its funds may be secured, and we trust the institution, has before it a long career of public usefulness and prosperity. It is the duty of the trustees to do all that lies in their power to secure for it increased confidence and ; support, and if any section of the trustees continue to hold a different view of their obligations to the Bank they should resign their positions in older that successors may be appointed who - will give th 6 institution their undivided allegiance. They were appointed for the purpose of devoting their abilities to the proper administration of the Bank's affairs, not to enable thbm to , take steps to secure its liquidation in order that they might further the ends of other public institutions with which ' they are identified, entirely praiseworthy though the objects of these latter may be. Then, as to the declaration in the Bill of the specific purposes to which further grants of the Savings Bank's profits may ■ be devoted, we see no reason why these should be limited to the Technical Classes Association and the Free Public,. Library project. For example, the High Schools Board is, as is well known, in straitened financial circumstances, and unless the Government is prepared promptly to deal with the whole question of secondary education in a comprehensive manner and liberal spirit an appeal might not unreasonably be made on its account for assistance out of the funds of the Bank. Then, the Otago Art Gallery Trustees have undoubted claims to consideration. Even a .very moderate grant would put heart--into those who are endeavouring to establish an Art Gallery in Dnnedin worthy of the name. Sooner or later the erection of a building suitable for the purpose must be undertaken if the city is to re-' , tain its position as the home of. a-cul-tured people. In the interests of all classes of the people the claims of the Art Gallery Trustees to recognition- in the Bill should be pressed. It is quite impossible for people who are noir in ; comfortable circumstances to adorn their homes with the works of repre- ' sentative artists, and yet they certainly ought not to be debarred from participating in the pleasure which every one must experience when visiting, for example, a gallery such as that of Auckland. We. trust it is unnecessary, for \ us to enlarge further on the points we have been discussing, and we hope that.... when the Bill has finally passed it will include satisfactory provision with re- *. spect to both of them.