THE TREASURER AND THE BANKS.

Star (Christchurch), Issue 5570, 20 May 1896, Page 4

THE TREASURER AND THE BANKS.

The Timaru Herald, a strong Opposition journal, referring to tho persistent efforts of the Wellington Post to persuade its readers that the Colonial Treasurer was very closely interested in the agreement between the Bank of New Zealaud and the Colonial Bank, says : — Did Mr Ward or his company benefit in the manner insinuated by the Evening Post ? Did the directors of the Colonial Bank forgive Mr Ward or his company any part of their indebtedness to the bank? We are in a position to answer these questions much more clearly than Mr Ward chose to answer them, or at all events than he succeeded in answering them. Mr Ward or his company never were in the "C" list at all; the bank wrote off nothing from the account, and it was taken over by the Bank of New Zealand. The shareholders of the Colonial Bank lost not a single farthing by the transaction, and wo need scarcely add that the Bank of New Zealand fully safeguarded its own interests. Thus the Evening Post, and those who have followed its lead, have found a mare's nest. * * * By way of conclusion we will add that although Mr Ward has gone down very considerably in our estimation since he first took office, and though his finance appears to us to be risky and unsatisfactory, we have no sympathy with those who, on insufficient grounds, attempt to injure him by insinuating that he has used his official position to bolster up his private affairs. Such a line of attack should never be adopted except on a very sure basis. 7211