The Feilding Star. OROUA & KIWITEA COUNTIES GAZETTE. Published Daily. MONDAY, JUNE 18, 1894. A STATE BANK.

Feilding Star, Volume XV, Issue 342, 18 June 1894, Page 2

The Feilding Star. OROUA & KIWITEA COUNTIES GAZETTE. Published Daily. MONDAY, JUNE 18, 1894. A STATE BANK.

There is a belief among the uninitiated that by an Act of the Legislature the New Zealand Government could make and issue notes which would be " legal tender," or, as the Taranaki Herald sarcastically puts it, " what could be easier than to pass a law enacting that these notes should be accepted as a legal tender for the payment of all debts, public and private ; and that any refractory person who refuses so to accept them should be liable to 6ne and imprisonment. Here is a simple process for producing money without the necessity of going i into the London money market and paying interest for it." A legal friend informs us that " Tender may be legally made 33 and 34 Viet., c. 10, s. 4 : Tn the case of gold coins for a payment of any au.ount ; In the case of silver | coins for an amount not exceeding forty shillings, but for no greater amount ; In the case of bronze coins for an amount not exceeding one shilling, but for no greater amount." It is not likely that any Act of tl.e New Zealand Parliament which would override this would be accepted by the English authorities, who have a very strong voice in all matters relating to our finance.