Sir Rodert Stout at New Plymouth.

Feilding Star, Volume XVII, Issue 245, 21 April 1896, Page 2

Sir Rodert Stout at New Plymouth.

__o_— — — (Per Press Association.) New Plymouth, April 20. Sir Robert Stout delivered a political address this evening to a large audience and was well* received* His speech was in many respects similar to that delivered at Hawera. He dealt more fully on tbe banking legislation, ire said that in 1894 Parliament was assured by Government that a £2,000,000 guarantee would be amply sufficient for the purpose of assisting the Bank and saving the colony trom a financial crisis. In 1895 they said further assistance was required to save the £2,000,000 already guaranteed. In this way Government had kept up Jl a system of telling half-truths, ; which deceived Parliament and the people, t There 'was a clause in the banking legislation which no one but the GoV' vernment understood At the time of giving authority to tbe purchasing bank to make certain concessions to. certain clients of the Colomal Bank the way in which the clause operated was first pointed out by Judge Williams, and it was a revelation. Sir Robert hoped that the names of the favored clients in •« C " list, who had their indebtedness forgiven them by the Bank of New Zealand would yet be made public. If any of such clients were members of Parliament then tbo banking legislation of last session wai the most corrupt ever passed in' any country. He criticised the new policy of the Government, stating there was really nothing in it. State fire insurance was ridiculous, abolishment of distraint for rent a farce K and abolish* ment of special juries unwise. It was ■ absurd to say Government by legislation could fix the rate of interest. If Parliament fixed the rate at two per cent money would be withdrawn from the colony and taken elsewhere. They could no more fix the price of money, than they could the price of butter: or any other produce- The new Government policy was valueless. He advocated purity of administration, which could best be secured by the means of returning good men to Parliament and the Referendum and an Elective Executive. At the conclusion of the speech a vote of thanks was carried by acclamation.