THE SECURITIES IN ENGLAND ONCE MORE.

Patea Mail, Volume VIII, Issue 91, 2 August 1895, Page 2

THE SECURITIES IN ENGLAND ONCE MORE.

It is now perfectly apparent why the return required by law relating to the securities in England was not published. It was laid on the tab 1 e of the House lastnight, and it shows that no securities were sent to Englaud between March and September, 1894. This rumour was circulated in the lobbies, and Ministerial members said that the Premier had made such a statement. The truth is now disclosed. Last year drafts sent Home were not called securities, but this year drafts are called “ securities;” but even adding these, the total is only £2,699,500—n0t three millions. Deducting the drafts and the £150,000 of the Consols money deposited in the Colonial Bank in London, the total amount of securities was only £2,159,500. And of this amount, only £529,400 was unpbdged! Our readers can now see why the return was deliberately kept back duri ig the debate. It would have proved that the statements made by the Treasurer and by other Ministers were false and misleading. We wonder who can after this believe any statement that comes from the Treasury Benches. The return proves that the securities were not increased between March and September, and that the total amount of every kind was only a little over £2,000,000, and, as we have said, only about half a million of it was pledgeable. And thus the credit of the colony and the truthfulness of our public men have alike been injured by the speech at the London Chamber of Commerce. The persisting in |suoh statements by Ministers, when they held the return in their possession, can only bo characterised as an unwarrantable and disgraceful pro- ]