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Te Ao Hou, December 1959, Page 52

pair, another commenced the erection of a house in European style, a third figured in sporting circles as the owner of a racing stud. To crown the extravagance, the armed guard were actually wearing trousers, real orthodox unmentionables, although they did occasionally wear them the wrong side foremost. Those connected with the Bank were the envy of Maoridom. Opposition Banks were talked of, and attempted without success. The customers appeared to be all used up. The Bank was in the zenith of its power when a great Maori Mission to England was decided on. One of the speakers said the spirit of a dead ancestor had appeared to him in a dream and told him he must go to England where lived the great Pakeha Queen who would redress all wrongs. The Maoris had been robbed of their inheritance, their children were landless and their Chiefs without power or influence. Let them go to England and lay their petition before the Queen. The money of the Bank could not be spent in a better cause. At the end of six months when the depositors came for their money, and in response to the general clamour, they were told that the directors had taken all the money to England. “Some beat the walls with their fists, others wreaked their fury on the remaining officials. As the crowd increased, the passions gathered in intensity, and the idea seemed to take hold that the money must still be in the Bank. Within a twinkling of an eye the old raupo whare was torn to the ground, the boxes which had done duty as treasure chests were smashed to pieces, books and papers were thrown to the wind, and the people, who seemed to have taken leave of their senses, jumped about in wild delirium. All at once a tongue of flame leaped forth, and before many minutes there was nothing visible of the Maungatautari Bank, the (“Whare-utu”, or Money House), but a heap of smouldering ashes.” Some months later, after feelings had subsided, the mission returned from England. The Queen they said, was greatly grieved at the wrongs of the Maoris and would see that restitution was made to the Maori race. As for the money in the Bank that had been taken, what of that? Did they not know that it was the custom of Banks to charge interest? and the interest charge for keeping money had eaten up all the principal. With the destruction of its premises, the sole remaining asset of the Bank was irretrievably lost, and henceforth the Maungatautari Bank ceased to exist.