The Opunake Times. FRIDAY, JULY 24, 1896. BANKING COMMITTEE.

Opunake Times, Volume V, Issue 197, 24 July 1896, Page 2

The Opunake Times. FRIDAY, JULY 24, 1896. BANKING COMMITTEE.

The first act in the Banking Committee comedy has been brought to a close, and the leading light has been fined £SOO. He has also paid it, notwithstanding that one of the soundest lawyers, to wit, Mr Bell, stated that if he refused the House had no power to compel him. When all the circumstances are taken into account it is extremely funny. Mr Seddon has stated on the floor of the House that the Bank of New Zealand is a department of the State. Mr Watson refused to divulge the private affairs of the Bank under instructions from the Bank’s legal adviser, and consequently the Rank is liable for his fine, and mast in all fairness pay it, and no doubt will do so. As the Bank, on the statement of the Premier, is part of the State, 'it means that the State will be responsible for it. and as the State is synomynous with the taxpayers, it therefore resolves itself into Parliament fining the taxpayers. The only advantage then is that the Gove nment get the handling of another £SOO without going direct to the taxpayers to raise it. So far as the deliberations of the committee have gone they have confirmed the opinions —of a number of members —expressed when the committee was set up, that it would be to all intents and purposes a farce. They contended that the proper tribunal was a Royal Commission, which would have probed the whole matter to the bottom, but this did not suit the Government. The reason why a Parliamentary Committee was preferred is very evident from the great care which is taken in excluding matters, with which Mr Ward is connected, from the eyes of the public. Public opinion has coupled Mr Ward’s name and the affairs of the Ward Association with the banking legislation and the purchase by the Bank of New Zealand of the Colonial Bank, and Mr Ward has stated that such rumors were false. If so we do not see why there should be any desire to shirk enquiry, but every obstacle has been thrown in Mr G. Hutchison’s way, in his endeavor to unravel the mystery, for such the Government's action right through the piece has been. If the transaction will bear the light of day, then full enquiry would have settled -the matter and shown that several members of the Opposition were reckless in their statements concerning the ex-Oolouial Treasurer, and have cleared his name of the imputations. If that source of information is denied, then such statements and imputations go, except in so far as the denial of Mr Ward is to be accepted. The Government is endeavoring to get at information principally concerning their political opponents, and having numbers on their side have the advantage, and with the same array of numbers can their friends, which they evidently intend doing. The main result of the com-_ mittee will apparently be to damage the solid and sound business of the Bank, and to stir up a lot of mud without any benefit, further than smearing all those connected with the business.