The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. FRIDAY, JAN. 18, 1895.

Feilding Star, Volume XVI, Issue 171, 18 January 1895, Page 2

The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. FRIDAY, JAN. 18, 1895.

INGRATITUDE. The position taken up by the London shareholders of the Bank of New Zealand would be amusing if it were nut fraught with possible evil consequences both to themselves and the colony. They cannot be accused of having acted with undue haste, but it is worthy of note tbat they protested first and afterwards appointed a committee to uphold their protest. In accordance with the terms of such appointment the committee, we were told yesterday by cablegram, has convened a meeting of the shareholders to protest, formally this time, against the call, and — still protesting— to ask for details from the New Zealand Government regarding the position of the 1-5,-ink. It does not appear to have Suggested itself to th^se people that the Government of New Zealand will be very unlikely to take the slightest notice of this demand, if it is ever seriously made, whicli — on the face of it — is informal, not to say impertinent. Although the colony has assumed certain responsibilities on behalf of the Bank of New Zealand, which involve a sum ot two million pounds, yet the Government did not then put themselves in such a false position as to be accountable in any way whatever to any section of the shareholders. The position is, in point of fact, reversed ; for the shareholders have heavy responsibilities to tbe Government, from which, it is only too evident, they would like to be relieved. The best legal men in England, ancl this colony, have given expression to tlie opinion that the obnoxious call will have to be paid, became there is no escape therefrom— unless by seeking the protection of an Insolvency Court, which is but a poor way of paying ones debts. What strikes us most forcibly is the abominable ingratitude displayed. Had it not been for the Government of , New Zealand, prompted and pushed by Mr John Murray (the principal officer of the Bank), the institution would have had to go into liquidation — a misfortune which would have involved the inevitable ruin of thousi ands of people in the colony and in England, antl certainly done some momentary injury to the colony (but not to the extent which was at one time supposed), although a change in the I Ministry would possibly have ensued I in consequence — "a consummation dei voutly to be wished," in the minds of some people. It would have only been a choice of two evils. We do not : mean to imply that these unlucky I shareholders have not our most profound sympathy, for we pity them very sincerely ; but we do mean to say that I they are under a deep obligation to this colony for the noble help given in the time of their need, without apparr ently being inspired by even the smallest feeling of thankfulness or the . slightest desire to help in the direction I of retreiving their lost capital.