Is the Sank of New Zealand Business Secret?

Manawatu Herald, 8 October 1895, Page 2

Is the Sank of New Zealand Business Secret?

• _ . — - For the- second time this session the Hon. John M'Kenziehaa stated that he knows the past accounts of the Bank ot New Zealand. :He has said that he knows how the past losses of the Bank were caused, and that' he can tell Whose accounts "had been Written"., off. . t^fchis Wile* or is it the usqat Ministerial bluster ? If it be true, then we- do not hesitate to affirm that a !mosV 'serious blow- has been striick at theljusjness of the; Bank. We do ' .nijt .^now ;^ how, xcept from : Bank officers', this information can have been obtained. And if it has not been obtained from responsible Bank officers aY present in the service of the Bank or formerly in its service, then it is the bpunden duty of the?Mihister of Lands to at once inform the House and the public from whom and how he obtained his information. The matter is of far too serious mom nt to the Bank to be left in its present position. No one caring for his business reputation would remain a enstovner with the Bank for a day if it was believed that the state of private accounts Was known to Ministers* $he Bank has a heavy handicap in its business in having any political connection, but under such statements as those of the Hon. Mr M'Kunaie its business must inevitably be injured* It is true that he has stated he does not know the present accounts of the Bank, but the pnblic has a right to know how did he— if he clidr— ascertain the past accounts, and we assert that no security will be fe.lt in the secrecy of the Bank if the present statements are left unexplained^ The statements made have been very precise. The Minister has; salcl that he knows; hcrw the- losses "of the Bank have heen occasioned, that he knows who he persona are who have been unable to fulfil i heir obligations, and he can give the House that information. He must have had a "..written list supplied to him. Who gave it to him ? Until that question is iully and clearly answered, there must -xist a vpry uncomfortable feeling •vgarding the secrecy of the Bank's business. We need not add that we j are exceedingly sorry that such j statements should be made. It is in | ihw best interests of the colony that nothing shou'd be done to weaken the Bank; No statements could be m u*e injurious to its business credit than those reiteratsd by the Minister of Lands, and it is time that they were either withdrawn or explained. —Post.