Jabez Balfour.

Star (Christchurch), Issue 5427, 30 November 1895, Page 4

Jabez Balfour.

• — The besb news we have had concorning the notorious Jabez Balfour was published yesterday. . The scoun-. diel has bacn .sentenced to fourteen years' isaprieonmeat with hard labour, and no one is likely Co deplore hia fate. The "Liberator frauds," as everyone will remember, were among the most calamitous events of the dark financial history of 1893. It is estimated that they involved the investing public, in one way and another, in a loss of fully coven millions sterling. Balfour and his confederates managed by an affectation of piety to win the confidence of thousands of poor people, who wore glad to find a f good man " and a member of Parliament ready to undertake the investment of their ecanty savings. Tho title "Liberator," which was applied to the Bnilding Society whioh facilitated Balfour's scandalous operations, ia said to have been chosen because ib found favour with the dissenting bodies, whose ministers not only invested in the concern themselves, but alao advised their congregations to do tho B&me. When the crash camo hundreds of these unfortunate dupes found themselves penniless. Large sums of money were raised in England for the relief of the most helpless of the suEferers, but, measured by tho stupendous charaoter of the plunder, they wero quite inadequate to the needs of these unhappy people. Applications for relief were made by no tower than 2042 persons, including 1414 women, 652 of whom were single and 601 widows, while. their aggregate losses totalled -3509,345. Balfour, of course, took care of himself. Having resigned his seat in Parliament, and secured a large Bum of money, he made good his escape to Buenoß Ayr*"* ur!di>r the assumed name of " Butler." When the British Minister in the Argentino capital applied for tho extradition of the fugitive he waß told that Balfour could not be given up 'unleßß reciprocity in similar cases woro promised by her Majosty's Government. The English Cabinet waß not at first disposed to make this concession, and for a time it looked as if Balfour would be ! allowed to escape the clutches of the law. But the impudent manner in which he flouted his victimß at laHb raised pubiio indignation in England to such a pilch that Lord Koßebery was compolledto make terms with the Argentine authorities, and bring the runaway to trial. The result of that step is told in our cablegrams.