Bank Legislation.

Star (Christchurch), Issue 5337, 15 August 1895, Page 2

Bank Legislation.

LOBBY GOSSIP. [FROH OUB OWN COBBKBFONDINT.J WELLINGTON, August 14. Lobby gossip on this subject is assuming a more definite shape, and the opinion ot members is distinctly hardening. It is now alleged that the inclination of the House to support bank amalgamation will be ueed as a lever to induce members to vote for the Government proposals witb regard to the Estates Company* assets. Some Oppositionists allege that a credit or guarantee of at leaßt three millions will be required to relieve the bank of its connection with the Globo assets, but the lobb extreme view of other members is that an issue of a million and a half in the form of Government debenture? will be sufficient to remove all tension, and will place the State in possession of Janda ample for the purposes of settlement for several years to come. It is recognised that the prospect of a "boom" in land settlement may reooncile a number of. members to the proposal, but the feeling of the great majority is said to be averse to any increase whatever in the responsibility of the Government with regard to the financial institutions of the colony, and it is roundly alleged that nothing abort of a scheme for the liquidation of the Eetatfiß Company and the establishment of a State bank will prove acceptable to ihe House. These professions, based as they are upon a profound ignorance of what the Government proposals may be, count for very little at this stage. It may, however, be Bafely concluded that if the bank amalgamation is made contingent upon the extinction of the Bank of New Zealand's obligations to the Estates Company, the defeat of these i proposals will certainly follow.