The Guardian And Evening, Star, with which is incorporated the West Coast Times. WEDNESDAY, AUGUST 21, 1929.

Hokitika Guardian, 21 August 1929, Page 4

The Guardian And Evening , Star, with which is incorporated the West Coast Times. WEDNESDAY, AUGUST 21, 1929.

BANKING AND THE STATE. Tt is probable that the House of Representatives, says, the Auckland Star, did not take very seriously the Bank of New Zealand Amendment Bill proposed bv the Labour member for Waimarino last week. Mr Langstone’s object, so lie explained, was to restore Government control over the Bank, hut at the same time his arguments ran in the direction of supporting a State Bank as against any private financial institution. As was only to be expected, the Prime Minister gave

these suggestions very little sympathy. But if the purpose of the Labour Party was chiefly to got some definite expression of opinion from Sir Joseph Ward in regard to the question of a State Lank, no doubt they had some reason to be satisfied with Mr Langstone’s attempt to “draw” the Prime Minister. As regards the amount of authority possessed by the State over the Bank of New Zealand, Sir Joseph Ward c.mtentcHl himself with flatly vontradicting Air Langslone. The Prime Minister poin.ed out that in terms of the Bank of New Zealand Act, Government has a ..majority of nominees on the directorate, while the auditor is also appointed by the State. Air Langstone’s complaint that the Government’s representatives “have no power” is absurd, especially in regard to the audit. But what Air Langst /lie wants is not the amount of supervision that the Act requires and the State exercises, but positive control over the Bank’s ousiness, or preferably the conversion of the Bank of New Zealand into a State inst.tutLn. And apparently neither Air Langstone nor .lie majority of the Labour Party realises that is is just this factor of State control which they are so anxLus to enlarge and enforce that might make a State Bank a source of danger to the financial and political interests of the Dominion. We need not .spend much time over Air Langstone’s. references to the crisis of 1894 and his regrets that tiie Government did not then take over the Bank of New Zealand instead of helping it on' to its feet again. As Sir Joseph AVard ioTu the House the question of a State Bank was very fully considered then, and what the Government did was the best that could be done to save the country from an unparalleled financial disaster. But in regard to the more fundamental aspects of State banking, the Prime Alinisler expressed llie views of all competent authorities who have cm sklered the question seriously. There should be no interference by the State with the internal working and the private business of any bank, so long as the bank conforms to the legislation passed to control it, and there is .adequate Government supervision of i.s operations. State Banking is always liable to two specific weaknesses—the tendencies of politicians to exploit the activities of the institution for their own purposes, and the tendency of the Government to utilise the resources of the bank for the creation cf paper money unsupported by any adequate re-/ serve. Till these difficulties can be got over no proposal for a State Bank is likely to find general favour here, and Mr Langstone’s discussion of the problem did not help materially towards its solution. No doubt the success of the institution in the Commonwealth will be referred to, but the conditions between the two countries are very different. In the Dominion the banking institutions have met all local requirements very fairly, and that they are flourishing institutions is evidence of the wisdom of the management. Finance is a very delicate phase of commercial life and requires to be stable and sound.' In this country there is nothing pointing to any lack of sympathy whh trading requirements to justify disorganising the existing relations in ' respect to banking, and on that account it should be wise, indeed, iO leave what is well, aiuue.

Tiie Government proposals to enforce regulations to control whitebait catching have been in the air for some time. j lie draft regulations have been considered by those concerned in catching ash locally, and there is a good deal of general and specific objection to the proposed control. This is not surprising as free license has obtained over many years now, in fact since the Coast was inhabited by Europeans. When the matter of canning whitebait was established here some years ago, a measure of control was provided for in the regulations then made, but they were not considered irksome. Indeed, those catching the fish in Westland were granted the privilege of using set nets, an advaniage not granted in other waters. The necessity for some more stringent regulation probably arises out of - the importance of the industry, combined with the fact that of late there is believed to be a falling off in the run of whitebait, and it is naturally considered advisable to check the wholesale catching excepting £jt certain seasons of the year, so that before and after, the fish remaining will find their way up-stream, to provide the foundation for increased future supplies. The step is precautionary, and to that extent is justified. There is a difficulty in fixing the riiost satisfactory catching period, because the season fluctuates somewhat. There are “early” seasons as there are “late” seasons. In fact some say there are two classes of whitebait, and they do not “run” togpther. There will he a divergence of feeling about the best time to fix, but doubtless a compromise will be reached. The fixing of a fee> is not unreasonable if the control is going to assure the permanency of the fisli—because in good seasons some handsome cheques are made, and the .ee is only a trifling amount for the privdege of set-netting. The limit of catch for a drag net is rather unreasonable, seeing that in season the fish I provides the stnnle food for many,who I should not be debarred the luxury of nature’s bnuntv. Certainly it is rot the drag-net fisher who is responsible for any serious denletion in the supp.y of fish. The local opposition to giving returns docs, not appear sour' 1 for only by that means can be proved statistically whether the regulations are operating to satisfaction and giving the results anticipated. Residents along river hanks will rather resent the privilege of fishing being confined to stipulated streams. Such a regu-

lotion, we fear, will be an incentive to poaching, and in the circumstances does not appear warranted. On the whole it would appear 'the proposed regulations are in need of careful trimming before being enacted, and the matter is important enough to engage the serious attention of the Acclimatisation Society to advise the Department on the matter.

eoxing enthusiasts—Thursday night will please you. Mrs Gilbert Louden and family insert' a notice of thanks in this issue. To-morrow is the final day for payment of County rates in order to secure the rebate allowance of 5 per cent. The annual meeting of the New Zealand United Licensed Victuallers’ Association will bo held at Greymouth on the 2nd. September. The annual meeting of members of the Kokatahi-Koiterangi Winter Show will be held on Saturday next at the Public Hall, Kokatahi at 8 p.m. Al,l members and intending members are invited to attend.

See Jim Musson’s lady acrobats on Thursday night at the Princess Theatre. The excursion train- to ’ the Christchurch Winter Show' departs to-mor-row morning at 7.15 o’clock, and the' party is due to arrive in Christchurch shortly before 3 o’clock in the afternoon. The ordinary train to Christchurch will run at the usual time tomorrow. Infectious and other notifiable diseases reported in the Canterbury Heaitli District for the week ended noon on Monday totalled 41. Canterbury: Scarlet -fever, 14; diphtheria, 8; tuberculosis, 3; pneumonia, 4; pneumonic influenza. 5. West Coast, 4; eclampsia, 10. Deaths in the Canterbury district were two from tuberculosis. The opera "itip Van Winkle” was produced at Greymouth last night to a bumper house, the Opera House be,-, ing filled. The receipts, exceeded £l4O. The total for the four nights’ presentation has been upwards of £435, a fact which speaks eloquently of the allround success of the presentation. There is a demand for the repetition of the opera at Greymouth, which may follow later, in addition to a furthei presentation of the opera here in aid of the funds of - the Hokitika Fire Brigade. The members of the Company are being entertained at a social at the Soldiers’ Hall by the ladies of All Sain.-s Church to-morrow evening. The death of one of- Greym'outh’s earliest Mr John Evans, Borough Turncock, took place last night at the -Grey River Hospital. The lute Mr Evans, who was 70 years of age, and a native of Wales, came with his -father to Greymouth in the sixties as a boy, residing first at Coal Creek. He was for some time in the employ of the Greymouth Gasworks, a Her' wnich he was appointed Turncock by the Borough Council, a position he neld until a coup-le of weeks ago when jie was overtaken by an attack of pneunvonia. only three months ago by his wife, the deceased, who was-, highly esteemed by a wide circle of friends, leaves a daughter (Mrs Stenhouse of Christchurch), and three sons Wiliiam (Telegraph Office, Greymouth). Alfred (Sydney) and Sydney (Christchurch).

Another new record was established last week in the amount of goods hauled through the Otira Tunnel, when loads totalling 15,438 tons were brought over from the West Coast. Last year, lor the corresponding week,' 10,372 tons went through the tunnel. The previous record was that for the week ended on July 27th. when 14,496 tons were taken through. The principal goods brought from the Ooasl were coal and timber. The increase in traffic is principally due to the absence of Australian ooals.from the New Zealand market and the cheap rates at which coal is hauled. -The capacity of the "tunnel is nominally 1000 tons a day, and it was thought to be a remarkable performance when this was doubled, but now the tonnage is well on the way to being trebled. Next month, double shifts will be worked in the tunnel, and this will allow even greater quantities being brought over, providing that the goods are offering. Another advantage will be that the trucks- will not he so long under load and a greater turnover will be permitted.

Messrs Harley and Co. Ltd., the Universal Home-makers, wish the general public of Hokitika to know that their representative, Mr A. Robertson, is now in Hokitika, booking orders for spring goods. , The latest styles and colourings in curtains, runners, and linoleum are now to hand. Our representative will be pleased to call on anyone desiring to see designs of furniture or patterns of material. He has also a full range of samples, including bedspreads, reversible rugs, hearth rugs, eiderdowns, sheets and blankets, etc. A message to call left at the Red Lion Hotel will he immediately attended to.—Advt.

Mid-winter Sale: All fashion goods at heavy reductions, comprising coats, furs, jumpers, cardigans, frocks, millinery, evening frocks.—Schroder and Co.—Advt.

1,000 satisfied patrons expected Thursday evem .fi —Musscn’s Acrobats. Entries for the Westland Competitions close- next Wednesday. Thursday is the final day for the payment of County rates to secure the rebate of five per cent, allowed by the Westland County Council in accordance “■ with the Statute. The Borough Council in this issue •otters for lease several Municipal Reserves for a term of 21 years with perpetual rigiiD of renewal in terms of 21 - years. Tenders ,close on Sept. 27th. at 4 p.m. • A ball will be held in the Three Mile Hall on Friday evening next, August. 23rd. Eiiieient arrangomenls have been made for the event and patrons attending will be assured of first class attention. . • v The Gas Cooking demonstrations- at ,v----the Soldiers Hall yesterday afternoon passed off successfully."' An interesting menu was prepared and the instructions were followed closely. Afternoon tea was served. There will be two more sessions, September 10 and 24 before the closing off the present series. . “I think it is high time men should understand generally that if-they go into -business without the necessary .V knowledge and ffail to ’keep- proper books this Court does not afford-more than the necessary protection to them arising from: the fact that they (-have become bankrupt,” ea : d his Honour, Mr Justice Adams, at Christchurch,; in refusing the application of a bankrupt for discharge by the Supreme Court. f" •