OUR LONDON LETTER.

Star (Christchurch), Issue 5434, 9 December 1895, Page 2

OUR LONDON LETTER.

ANGLO-COLONIAL NOTES. [JFROJI OUR OWN CORRESPONDENT.^ LONDON, Nov. l. SIR GEORGE ORGY. It is satisfactory for once to have thoroughly good accounts to send of Sir George Grey. The bronchitis and cough have left him, he is eating better, manages to get out for a bit of a walk most days, and seems in better spirits than he has been for months. The good spirits are unquestionably due to the prospect of seeing Mrs and Miss George again. I have, I may here remark, heard that the Auckland gossips said that Sir George went home . because he thought he was too much managed (of course for his own good) by his niece » However, that may be, I can assure these kindly souls that at the present time Sir George looks forward with the liveliest satisfaction to being taken in hand by Mrs George. And his friends are delighted, too, for, as the valet at Park Place observed to me, " li& Ao taske a. deal of managing, he do." Just think of it, during his recent nasty attack of bronchitis the Grand Old Man would soe neither doctor nor nurse. The Agent-General implored him to have a nurse, if only for appearances' sake, but he was not to be persuaded. In the night, if Sir George got worse or wanted anything, his only course was to turn out himself and arouse the porter. During the Wy and at ordinary times Sir George is as well off as he could be in such small, stuffy rooms, the servants at Park Place being devoted to him. His secretary, Miss Aston, also looks after him in every possible way she can*. Naturally, however, she can't do many things which his niece will be able to-do. \' . . \ ".THAT STATUE." : .; — f , Sir George was bo well aid bright •on Wednesday afternoon that 1 thought I would make another attempt to extract an expression of opinion from him regarding the projected Grey memorial. With infinite diplomacy (as I thought) I wriggled the conversation gradually round to presentations, testimonials, Dr Grace, Mr Gladstone, &c. Didn't --Sir George think a man had a right to express an opinion regarding the character of an impending testimonial? No, Sir George didn't think so. Of course if the committee directly asked his opinion he might perhaps propound his views, but not otherwise. Had I read Mr Gladstone's letter on the Armenian question, and what did I think of it ? , Ten minutes later I again tackled the memorial business, telling Sir George about Selwyn College and the suggested Grey scholarship. He said very little, nothing indeed to the point, except that denominationalism might interfere with the scheme. What interested him far more were my views on Bible-teaching in. Board shools. He talked delightfully on this subject for sonic time, dwelling on the simplicity' of the ten commandments and the Sermon on the Mount, and the ease w^th which young children could understand them.. How direct and uncompromising was a child's mind; Sir George recalled a walk with one of his < grand nieces years ago at the Kawau. The child began asking him "Whose iB that cow? Whom does^the. dog belong to? Who owns the sheep* and the lambs P" and so on, a whole- string of questions. To everyone poor Sir George had to answer, with a sense of growing guilt, " It's mine, dear," or " They belong to me, love.". At last the child ceased> and was silent for , a moment, , evidently revolving things. in her; uiind. Finallyj she surveyed the-old gent^mah severely. '"Go&'ii; be. 'very-aMgrywitH you. Because He;- didn't mean to give you all that !"■ Sir Qeorge chuckled reniinißcently as -lie .recalled his confusion. But this- talk,.thpughdelightful of its kind, had somehow strayed far away from the statue. I made a last desperate attempt to return to the "■ subject. But Sir George was deaf. Could I tell him how — dear me ! he was so bad at remembering names— but heineant the nice kind little man with the indigestion ? Witheford ? Yes, of course, Mr Witheford. How was he? Much better, I told the great proConsul, his malady (with an accent on the malady) had yielded to treatment at last. Sir George was glad. I strongly sußpect,. too, he was rejoiced to see my back when I got up to go. For I fear I had not followed his conversational leads as I ought. ' ROCKS AHEAD. 1 It is, I find, necessary to materially modify the statement that the transference of the inscription of New Zealand stock from the Bank of England to the Bank of ■New Zealand has excited little hostile comment. This was true, but only because the bulk of those interested did not understand what was meant by- "transferring the Government business " from one bank to the other. They did not realise it signified loan business. As soon as the mail came in, and the real nature of the change permeated the city brain, a small hurly-burly set in. Not only did the Financial News and other papers express strong disapproval, but the Agent-General received many letters of remonstrance, several of them from financial magnates of high standing. The Bank of England itself undoubtedly means to bring all, its influences to bear against the New Zealand Government's action. It is not that New Zealand's .£16,000 a year matters superlatively N to the Old Lady of Threadneedle Street. If she could be sure that would end the affair she would possibly let it go without.imich fiies. -But these reforms are catching. ,- South n Australia -, and ' Canada started them; N§w Zealand is following suit. Unless it can be shown that the change of banks injures the credit 'of the latter colony, what is more likely than that Victoria and New South Wales and Queensland may also take economical fits, and quit Threadneedle Street for less expensive locations ? You can easily see, too, that the Bank I of England's prestige is to some extent at I stake in the matter. If it does a colony no harm to withdraw from her harbourage what is its value ? And if the Bank of New Zealand can float a loan as efficiently as the Bank of England how egregiously must the influence of the latter institution have been overestimated. What then can the bank do to make things unpleasant P Well, if the Board themselves hold enough New Zealand stock, to render the market w wobbly," and to impart an atmosphere of insecurity thereto, probably they will have it well advertised that the bank no longer does New Zealand , business. No harm in that, you think, Well, only this : it will frighten into fits the countless small and ignorant investors all over the country, most of whom believe the Bank of * England guarantees New Zealand. The effect will be to still further shake the market, and to stop the solution of undigested loans. " But," says somebody, " that won't Wit the syndicate, and theyTl make cause against , the Bank of England." "Yes, but suppose they, /too, think the colony is damaging her credit, and make cause not against the Bank of England, but with her." What can your Government do then ? ' I submit with deference that before this move is carried out its possible results should be thoroughly explored. The more inquiries we make the less I like the prospect. The Home banks are in arms to stop such defections. When South Australia first decided to do her own inscription, Glyn and Mills hardly offered any objection. "As you are not going to give it to any other.bank we don't mind," was their attitude. Now, however (inspired, it is believed, by the Bank of England), they are making 'as many difficulties as possible. PERSONAL. Mr Elliott-Eliot tells us Mr Wakefield is over from America on one of his periodical trips, and that he met him the other day looking very "fit" and well. He seems to be settled in his present business, and to liave no intention whatever of returning to New Zealand. Mr ElliottEliot, by the way, met witii a nasty accident not so long ago. Ho was getting out of a 'bus one afternoon, when it started prematurely, and down he came on his back. Unfortunately the veteran had hold of the rail, and it did not occur to' him in the confusion of the moment to let go. Consequently he was dragged for some distance along the ground. A policeman came \xp, and after Betting Mr Elliott- * Eliot on his feet, proposed prosecuting the conductor. This, however, the goodnatured old gentleman would not hear of. He said ho felt siu'e the occurrence was an

accident, and he had no desire to bring trouble on anyone. So he trotted off home, rather shaken/perhaps, and -with the skin •of portions of Mb anatomy abraded, but comforted by the benisons of a grateful and penitent 'bus conductor. Mr William Cowern, the well-known land and financial agent at Hawera, has arrived Home on a trip of business and pleasure combined, and is staying at the Salisbury Hotel. He states that he is ■empowered to dispose of valuable land in various parts of New Zealand, and to offer securities for money • of the " giltedged" order. Mr Cowern has excellent' introductions, and should conditions seem favourable, it appears possible a new pastoral company may be launched under his auspices. He is very emphatic on the admirable openings which New Zealand offers to investors, and states that at jio period of depression in the colony's history need a man with a head on his shoulders have lost> money through land. I gathered that Mr Cowern viewed his own cranium as particularly well-furnished, and can satisfy anyone whom it concerns that clients trusting to his experience have garnered goodly harvests. In ,the church intelligence of;' the Times I note a couple of " pars " interesting to New Zealanders. The first informs us that in accordance with the requests of the Baptist Union of New Zealand, the Key John Muirhead, of Bristol College, has been Set apart to the pastorate of Pahnerston^ \North, andtye Rev T. A. Williams, of the same college, to Sydenham, Canterbury. The second paragraphs says that the Rev Frederick Stubbs has closed his ministry in Dudley, having accepted service in New Zealand under the auspices of the Free Church of Scotland.