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Wairarapa Daily Times, Volume XXVII, Issue 7533, 8 August 1903, Page 2

The Elective Executive Bill has been thrown out in the House by 36 votes to 21. The Government were almost saved from a defeat on this measure by tho votes of the Opposition members. Nearly one-half of the Ministerial phalanx is dissatisfied with the Cabinet as now constitutedj and supported the Bill with a v}ey. to bring about a change'" by hook or by crook." Now, the malcontents will have to resort to more direct means; if they still press for a re-organisation pf the Cabinet; and if they came out with an open and direct attack, they would probably be threatened with tho pains and penalties of a dissolution; an alternative which they would hardly care to face. The majority of Members in the House favour Cabinet re-organisation ; but- they are not in a position to give practical effect to .heir wishes. Mr jSeddon is still lOjiastjgr gf the situation ;' and the t**k °f dislodging him, however dear to the hearts of the Opposition, and to many members of the Liberal Party, continue? to be stujaentyua.

At tbe annual meeting of the Bank of New Zealand, the Chairman stated that his institution had underwritten somewhat less than one-half of the late Government Loan. Hero we have a spectacle of a Government which goes security for a Bank; and tho Bank, in its turn, going security for the Government. This, we presume, is tho high finance of the present day; but it iB not business, in the sense that business is understood in reputable commercial circles. Therefore, we are of tho opinion that the Bank ought, as far as possible, to tako a position entirely independent of the Government. Was the Bank in a position to say " no,' when invited to largely under-write the late loan ? We fear not 1