WHAT THE PAPERS SAY.

Poverty Bay Herald, Volume XXIII, Issue 7661, 20 June 1896, Page 2

WHAT THE PAPERS SAY.

PRESS OPINIONS ON THE WARD BUSINESS.

Ddnedin Stab : It is characteristic of Judge Williams to review with the strictest fairness and without a shadow of partiality all questions submitted to his decision. . , . His Honor very properly repudiated the idea introduced into some of the affidavits that the political pocitiou of Mr Ward should have any influence whatever upon the case. . . . Mr Ward has been a popular and useful Minister, and we are grieved to admit that the disclosures upon which the Judge commented wiLh so much severity, and the general circumstances of this most unfortunate business, render his retention of office practically impossible. Mr Justice Williams must have been deeply pained in having to condemn Mr Ward's conduct in respect to the Farmers' Association in such unmeasured terms, but he has earned the thanks of the country for advocating principles of commercial morality, which unhappily are too frequently ignored. His Honor does not comment directly on the action of the Colonial Bink, through its responsible officers in dealings with the Association and with Mr Ward. We predicb that a good deal will be heard of this, and that the Government will be called upon to justify certain appointments and the maintenance of certain officials in certain positions.

New Zealand Herald : The terms of the judgment render it imperative that there shall be further legal proceedings, and that for all those fraudulent transactions spoken of by the Judge some persons should be put upon their trial. It will be impossible, we should think, to avoid that.

The Post, on Mr Ward's speech : Had he addressed himself with dignity and moderation to an explanaiion of the causes that have led to the present crisis in his fortune, he might at least have commanded some commisseration for his fall, if Dot respect for hia past ; but, seemingly dead to all sense of propriety, or goaded by stress of adverse circumstances, he committed himself to a line of conduct that must have deeply iiiued his friends, and could not but excite the pity of his opponents. His speech was bitter, personal, and rancorous to the last degree, and when it cornea to be read — as ib will be to-day in the principal journals of the colony, or so much of it as is printableside by Bide with the damning judgment of Mr Justice Williams, his present cause musb be bereft of all hope, and his name and fame both as a politician and a man for ever tarnished. Napier Telegraph : One of the first things the House ought to do should be to call upon the Government to introduce a Bill to rescind an Act passed last year. That Act wrs introduced to the House last session, on the 25th of October. On the 19th of October, as Mr Justice Williams very pertinently points out in his judgment, Mr Ward gave to the Colonial Bank a worthless promissory note for £55,000, and the Bank, knowing the promissory note was worthless, took it. Six days afterwards Mr Ward introduced to the House, and supported to its ultimate passage, a Bill which among other things provided that if the books and accounts of the Colonial Bunk were needed in a Court of law as ovi- ! dence, they should not be produced, bub that in their stead the Court should be satisfied with a certificate by the bank officials. The Bill also provided that the books and accounts should not even be produced at meetings of the shareholders of the bank. What was the reason for this secrecy f la not the answer only too obvious ? NZ. Herald: The effect of the present disclosures in London is sure to be most injurious to the colony. There Mr Ward represents New Zealand finance. H.B. Herald : If Mr Ward had deliberately set himself to destroy all sympathy for his unhappy position be could not have adopted a more successful method than the mauner and matter of his speech on Tuesday evening. Never has the New Zealand Parliament been so disgraced. Wanganui Chroniole : The Judge's words need no application or enforcement from us. They are so plain that he who runs may. read. Even Mr Ward himself does not attempt to explain or impugn them. Me Seddon tried hard to evoke sympathy for Mr Ward because of his great losses. It is true that he has lost £100,000, bub that was only money lent to him by the Colonial Bank, for which they had not sufficienb security, and the loss is one that in reality falls upon the unfortunate shareholders of the Bank. Who bespeaks sympathy for them? An effort has been made to make ib appear as if the position which Mr Ward now occupies is due to political opponents. Humors have been current for some time as to the position of affairs, and occasionally these have found their way into print, BuO the worst that has been said does nob approach the reality. Mr Ward show that hia failure has been caused by any of his political opponents. He had a full opportunity in Court of making any sLatement on the subject, but he never said a word there about hiß political opponents ruining him. Id all the evidence and affidavits these is not a word about political motives. It is the height of absurdity, after the exposures that have taken place, for him to attempt to pose in the attitude of a political martyr N.Z. Herald. Otago Daily Times: "Mr Ward stated that he was not aware, when introducing the banking legislation, that any account in which he was interested was to be placed in any particular list in the agreement between the banks. No doubt it is true that he was not explicitly consulted, but it is at the same time clear that he was bo vitally interested that it was impossible for him not to have realised that his only ehaace of being saved from toppling over the financial precipice on which he stood was by amalgamation, and the subsequent taking over of his accounts. It is as little possible to refrain from reprobating in the strongest terms Mr Ward's connection with the banking legislation as it is to suppress blank amazement at the culpable carelessness and recklessness' which characterised Mr Ward's control of an extensive business associated with hiß name. Mr Justice Williams' stern and trenchant criticism need cot be matter for bui prise. No case has ever come within our experience in thiß oolony in which the private concerns of a public man were so involved with his public actions, and ib is to be hoped that we shall never see such another in New Zealand." The article then proceeds to attack the present management of the Bank of New Zealand, saying :— " We are not going to discuss the business capabilities of the bankers who have been exalted, but we ask in the light of all we now know, would Mr Watson have been, appointed President of the Bank of New Zealand if there had been no Colonial Bank to save from utter destruction, if the Colonial Treasurer had not been the managing director of the Ward Association, and if his fortunes had not been involved with its fortunes, and if the fortunes and reputations of the directors of the Colonial Bank had not been involved in the fate of thab institution 1 Going further baok, we ask if their interests had not been at stake, would the guarantee of two millions have been given for the Bank of New Zealand, and would the colony's credit have been pledged for the additional millions of last session? These are questions which it behoves every man in the community to consider, and to answer to his own satisfaction."