Manamatu Herald. TUESDAY. JULY 23, 1895. Pledgeable Securities!

Manawatu Herald, 23 July 1895, Page 2

Manamatu Herald. TUESDAY. JULY 23, 1895. Pledgeable Securities !

The importance of the question whether the investments made by the Government departments receiving cash on behalf of the colonists being considered pledgeable lor. other purposes by the Government of the day become apparent by the v perusal of a Return showing the investment fof the funds of the Post office j Goy^r/uneqi; Life Insurance,, .Public. Tn?lt^and Commissipneb >of 'P-übii3 • DebW "Sinking Funds, A laiti v - before Parliament. By this Return we find that the Post Office SavingsBank had in various Government Securities a sum of £766,900 ; the Government Life Insurance department £255,150; and the Public Tru?t Office £238,400. These totals make a sura of £1,260,450 which are practically held in trust, and as is well-known the Post Office undertakes to pay on a three-day's notice. If the JBJnglish money-lender got possession 1 ' bt jfche deben tures, pledge--1 abjel? according to the Colonial j Treasurer, in wbfvt manne* woulcll

the investors in the Posi, Office Savings Bank ba paid the £768,900 they have a right to on call ? "We do not believe tiie Treisiirer in" His calmer iiiohienfcs Would still assert the right he foolishly urged he had, and depositors need not be alarmed, but this is just one of the foolish assertions made from time to time by the Liberal Grovernnieii.t which' causes so much distrust iri tlieir actiorisw tt is tb be hoped before the Session is ended some decisive agreement will be come to that under no circumstances shall the securities held h? these departments be considered available iii any Wa^j as a Beeiirit^ t8 otnel 4 creditors. The matter though serious; is &6 simple, that it is wonderfvll what a lot of words have Beeri iisect oVer it, unless used in the desire to smother the actual facts from being known.