Bank of New Zealand.

Manawatu Herald, 30 June 1894, Page 3

Bank of New Zealand.

We learn from to-day's Times that last night the Government intro*

duced and passed through both Houses a Bill to guarantee out of the Consolidated Fund a Special Issue of Shares by the Bank of New Zealand to the amount of two mil' lion pounds sterling. The Colonial Treasurer, in pro* posing the second reading, said he need hardly say that it was a matter of great urgency. Hon. members on both sides of the House would realise that a grave responsibility had been placed upon the Government in this matter, a responsibility which he himself felt keenly. It was a responsibility, he would inform the House, that could not be taken were it not that the necessities of the present financial situation demanded. Captain Russell regretted the Go* vernment had not some idea of what was the real position of the colony before putting the paragraph in the Governor's speech congratulating the colony. Sir Robert Stout thought the House recognised that this was a Bill of urgency, and that therefore it was entirely inadvisable to discuss it at length. This Bill was to be passed — in fact, it had to be passed that evening or not at all. There* fore he thought it was almost criminal to spend much timo in discussing it. Mr Bell cast upon the Government the entire responsibility in this matter.