BANE OF.NEW ZEALAND,

Otago Witness, Issue 2310, 9 June 1898, Page 54

BANE OF.NEW ZEALAND,

the Hon. Minister denied the statement by Mr Scobie Mackenzie that the Treasurer had deceived the country a* to the. amount of money required. It was, he said, people connected with fcb.B bank who had deceived the Treasurei and the country, and lie was very sorry to 'say that some of those people were still in office in the b&nk. He challenged Mr Scobie. Mackenzie to assist in their removal. The Government last session introduced a bill dealing with the bank. The country had but one director and the shareholders had three, and he maintained that the country had a right; to be very differently,- represented, as the interests of the shareholders were nil. The bill of last session, or another one, would be introduced. They might have no objection to the bank being sold to a syndicate, if they could get one to buy it. If a company was formed to get rid of the bank he should be glad, for with careful and prudent management it could be made a good paying concern. Ho was not prepared to leave the bauk in the hands of the four men in Wellington who were guiding it at present, nor with any four men in Wellington, but there should be representatives from other parts of the colony, and the producing industry should be represented. What could they think of a bank that would allow an overdraft of £34-,000 on an insecure mercantile institution in Wellington that had just become bankrupt-, and with security for only about one-tenth of the overdraft ? What he was Baying with regard fco the bank would be sent over the colony in the worst colours by the Press Agency. He made this assertion because some eighteen months ago, ' when at Geraldine, he made a statement to the effect that the bank's officers were making use of their positions for political purposes, that they ought not to do so, whether for or' Against the Government, and tbat if they went on doing that that the bank might have to' go into liquidation. What was telegraphed all over the colony then waa that he had said that the bank was going to be put in liquidation, aud down came telegrams saying that the utterances of the Minister were destroying the bank. And without communicating with him on the subject, or asking . if he had made such a statement, the s Premier was asked to declare that His (Me M'KenzieV) statement was wrong and false. The Premier was, however, cautious, and having obtained a copy of the paper containing a dorreoii leeorb of his aooech showed the buxk

that ib was the mistake of the Press Agency, fend suggested that the Press Agency should be wsked to make an apology and reparation. Bat tha moment they found' that' it was the Press Agency and not the Minister for Lands who had made the statement it was discovered that no harm would be done, and that it was nob- necessary to do *nythiug. When tirey believed it was his statement they tried to get the Premier in arms, and were prepared to do anything to "flatten him out," but when it came to be a question of the Press Agency being wrong that was quite a different matter. As scon after this he was left as Acting-Premier, he did cot at the time pursue the matter further ss he wanted thing* to go smoothly, but oh the Premier* return he wrote to the bank respecting it, and received & rep2y regretting the iDci^ dent and expressing Borrow for a misunderstanding -which,' according to the Minister's letter, -bad arisen from aa incorrect report. There wan another -matter connected with tfao bank which was of direct interest to farmers. During the last three moisthe a large quantity of wheat had been imported from Tasmania, for the purpose of corapslling the farmers to sell Iheir wheat to fbe bank afc a lower rate. The customs returns show that; ths quantity imported "was* 27/058 busbelo, and out of that quantity the Bank of New Zealand, as the owners of the roller-mills i» Auckland, bad been t guilty of introducing 21,486 busbsls. The farmers had been told by the agents of the Sink -' of - New Zealand that they -cocild introduce^ wheat from, „ Sydne/ w --at a given price, and *' that if they 'did not sell at a-certainprice wheat - , would' be introduced fromjfGreign partis. This was threatening the farms-'rs to induce them to sell, wheat feelow its value, and this was jdone by v the.bauk they 'were *uppcrt : ng, 'dad that • ' would not be ; aS3eto keepits dnors open but for them Was that fair ? He said it van not ; and that this year when the produce was small ia many «a«e», in trying to do harm to the farmers the Bank of New Zealand was thawing an ungrateful spirit to the .very men who had backed it o,p. "He knew -the consequence of h?s saying Ihia would I>e tSmfc every manager cf the back from Auckland to the Bluff would bare a •• dowD " upon 3ohn M'Ke.Lzie, 'but be had told Ilia colleagues Uiafc he wav goicg to make this statement as to what the bank was doing to red nee the price paid to the farmers for their wheat. Referring to tOCAL -MATTERS - the Minister for Lands said that despite oppostion he had been able to get sufficient money to open a ' lime kiln in Shag Valley. He did not usually mention such matters, but he mentioned -this because «f the attempts that had been made by a small clique for personal *nd political reasoDfl *fco -.prevent this benefit being conferred -on the district. He asked the people if they' believed in the Government's policy not 'to head over its administration to those wfco bad opposed it, and prophesied its failure, but who now realised tbe hopelessness of attempting its repeal. The country, he said, had become prosperous under the present Administration, and' he said that tf the harvest had been good the prosperity of - the colony this year would ' have beea as great ss at any period ixT its'; history. Ha bad, he - «aid, to make an announcement that was verypainful to him— namely, that it wai c „ NOT "HIS INTENTION- TO ST^ND FOB WAIHEMO. .Ihia-wajr-nab » hurried decision: During the remaining portion of thia Parliament he should represent" Waihemo," but at the next election they must lock for tome other candidate. - After 27 yeari it was painful fco sever these ties, bat he felt ib was needful. It would be'said he did so because he would not be elected again if he stood, but that had keen said, with great confidence on each of the six occasions when he had stood' for re-electioa, and every time _Jie had _ been elected. His reason v»as that it was necessary a candidate should visit every part of bis constituency. This involved about 40 days' work and a speech every day, and he knew he could cot undertake this duty. On the present occasion he must ask hi* coh*tibuents to excuse him, for .he could not go over 4he district, bat he proposed doing so and saying farewell to them during the summer. In the winter it w,a* not prudent that he sihonld attempt it. If there w*« a constituency which be could contest with seven or- eight meetings he would probably offer himxelf, and, if the electors there desired it, continue to serve tbe Liberal party, but if not he roust retire, tnake hi* trip Home, return to end his dsys Tvifch the us as a feTlow-?ettler at his home at Shag Point. He advised tb«un -to lash out for a suitable .successor, and heartily thanked them for the tnanner in which tbe Liberal party in the district had stood* by him from tbe firsfc, some of those present having voted for him on every occasion since he had first entered political life. Tbe Minister resumed his seat amidst loud aud continued applause. After tha speaker hsd replied to a number of questions, - c Mr - Arklb -moved-" — "That a. vote of thanks be accorded to Mr MiKenzie for his long acrvices ; that confidence ba expressed in him as the xepressntative.of the district and oonfidence in the Government as at present coa*titttted ;• and that the meeting, regrets the resolution' of Mr M'K^Ezie to retire,' " aud hopes that he may reconsider his decision." Mr Bukgess seconded the motion, which on being put was declared carried unanimously. One hand was held up against it.