THE BANKS' COMMITTEE.

Otago Witness, Issue 2209, 2 July 1896, Page 24

THE BANKS' COMMITTEE.

AN ANIMATED DISCUSSION IN THE . HOUSE. (Feom Oub Own Cobrespondent.) Wellington, June 24. The Premier is evidently in no great hurry to setup his Banking Committee. No doubb he is a little bit afraid of tbe Opposition and the Left Wing, and wishes to make Mitv how the cab will jump before taking any definite action. As I wired you last night, he has amended his original motion both in regard to the soops and the personnel of the ca/nmibfcee to be sat up. The Left Wing met this morning to consider the position. They claim to be able to bring IS votes to bear in suppjrb of en amendment which Mr G. W. Russell is to move to the Premier's motion as follows :— "That the scope of the inquiry be (1) the immediate circumttjnces leading to the two million guarantee to the Bank of New Zealand in 1891, and especially as to the information upon which the Government urged Parliament to give that guarantee; (2) all matters relating to the appointment of Mr W. Watson as president and Mr H. Mackenzie as general manager of the Bank of New Zealand ; (3) all matters i elating to the proposed amalgamation in 189) of the Colonial Bank with the Bank of New Zealand, the purchase of the Colonial Bank in 1895, and especially as to the correctness of the balance sheets of tho Colonial Bink, the amount paid to that bank as goodwill aud the basis on which Fuch alleged goodwill was assessed; (4) and to deal, with all such other matte s uh tbe committee deom necessary or expedient in the premises." The Left Wing afoer agreeing to this amendment entered into negotiations with the Opposition,, who will support the amendment with their whole force. As the Opposition may be regarded as 18 atrong there will thus be some 33 members in favour of the amendment, and unless the House is a very full one thie should prove to be a majority. No doubb other members seeing how matters &tfl tiondir^ and gauging tbe feeling in the

constituencies will throw in their lot with tbe malcontents. Jt remains to be seen how tho Premier will meet this counter-move. .No doubt he will be equal to the occasion. June 26. The Premier sprang a surprise on the House this eytntag when he moved to suspend tho Standing Orders for the purpose of setting up the Banking Committee. No doubt he was astute enough to divine that the time was, from his point of view, opportune, seeing that there was disintegration in the Lafb Wing owing to tho move made by Mr " Radical Riccarton" Russell the other d<iy. It is too early in tbe debate b> predict what the result will be, or whether the would-be Radicals will arise from the ashes of the Left Wing and turn the tide against the Premier. As I had already hintad, Captain Russell intimated definitely that he I would decline to take part in the proceedings I of a committee set up to undertake • the ghoul- | like task of raking up dead men's bones. Ho ; wished to see appointed a Royal commission', composed of a judge of the Supreme Court, assisted by two business men of high standing. The Minister for Lands followed, and it was evident as the debate proceeded that the Ministry wished to throw the onus of avoiding an inquiry, upon those members who opposed what they believed to be a partisan committee. The Opposition, however, quickly repudiated the position. They wished for an impartial inquiry by a competent tribunal, Tho Minister for Lands sud, during the course of his speech, that he wa> in favour of opening the proceedings of the committee to the press. Mr Montgomery made a speech on behalf of tho Government. Sir Robert Stout *cored repeatedly in the coucfo of a calm and judicial utterance. H<3 pointed out that if the P/emier's committee were set up it J would mean that two of the accused would' be sitting to try themselves, and tnen to try a deadman. " Had Parliament come to that ?" he asked, in dramatic tones. Messrs Buchanan and Duthie were also severe in their criticism, and made some withering, comments. The latter said the Government were on their trial, and this wan a whitewashing proposal of tin Premier. There would be no .attempt to get at the bottom of the wrongs done to tbe country by the hon. gentlemen opposite. Up to tbe supper adjournment* the speeches on the Ministerial side were particularly weak. Mr G. W. Russell then finished, a slashing speech, which v*as an able and severe indictment of the Government. After him came Mr Collins, tttd we had the surprise of the evening, lor the member for Christcburch, always an out-and-out supporter of the Government, res? to second tbe motion. He, like Mr Russell, made a raostdamagng speeob, and tbe Per nrer and bis colleagues began to look uncomfortable. It began to be whsperod about that tha Premier's motion was in danger. By 11 30 there was consternation in the Ministerial ranke, and Mr S=ddon roße to say that if the Houxe would agree to the motion be would be willing to leave the composition of the committee to be settled afterwaris. "You can't help it," interjected Me Pirani, to which the Premier angrily replied, ''You had better make no challenge of-, that kind." The Premier- went on to 'state that hi» change of front in regard fc© the committee w»3 necessary owiDg to, th& refusal of' MrjCtollinstoacb ou it. Toe tit&JHte.mber .. said &i did not refuse. The Premier reiterated his ■statement, bub ; Mr Collins rose to" explain that ? .wh.*t s he stated- -was' hot -that -he would- •refuse' to act on the committee, but . that he would refuse to act on a oommitbee that would have to act as proposedby the Premier in' his motion. When he was avksd to eerve on a committee by the Premier he did not know that the motion* would take the form it did. The Premier thundered forth in stentorian tones for half an hour, and at midnight Sir Robert Stout got up to make a few words of personal explauation. Meantime Mr George Hutchison was getting his artillery into working order, and the Government began to feel a little more uncomfortable still. Mr Hutchison proceeded calmly and quietly, stating that he was for an inquiry. He bad always been for an inquiry, but these who expected that the member for Waitotara would rake the Ministerial benches foro and aft were disappointed, for Mr Hutohfc ou only said a few words, and urged that the House shou'd confine itself for the prcsenb to the constitution of the committee. The Minister for Lands and Mr " Mareden " Thompson followed, the latt«r abating that he was last session of opinion that the purchase of the Colonial Bank was % job, and he was still of that opinion. He accused the directors of the Colonial Bank of positively swindling the directors of the Bank of New Zealand out of £100,000. He advocated a criminal prosecution of the guilty person*, whoever they aright, be, and argued that ib w»s useless for the Government to endeivour to shift the responsibility for the banktDg legislation from their own shoulders.- They had combined with some members of the Opposition to pass tb*t legislation. Towards 1 o'clock interest in tbe debate began to slacken oft', and after several members had { spoken, Mr W. Kelly at 1.5 moved ins adj jnrn- j mtnt of the 1 debate. ■ There was a load cbouu of ''noes," but the division wag 32 to 23. in favour of adjournment, which will give tha Premier time to harden up bis party before Tuesday.