A MAORI BANK

Rotorua Morning Post, Volume 2, Issue 459, 17 February 1933, Page 4

A MAORI BANK

E. Earle

Vaile.) 'I

AN EXPERIMENT M&1SOCIAL CREDIT AMONG 1&EN THE HAPPY-GO- IBY t LUCKY J NATIVE FINANCING ' " JOF

(By

Wharerangi (sky-house) was thM local carpenter; the proud possesso* of a saw .of sorts, a . chisel with aw'ce edge closely related thereto; a Ilam®0 mer and a "cheap and chippy chop®n£ c per." To give "him his due, he coul®ti'ra worlc wonders considering the natute»°re of his tools of trade. m Unfortunately, however, he nianag.Bniea ed to dispose of the Iands of his an.B^or0 cestors to the tune of £800. With this®*1 he started the old game of "the big® Rangatira" — h'e nobly entertained theK ^ tribe, and carpentry in our area Vas# , at an end. To him I addressed my.®11?1* self with no uncertain sound. "YouB i •inferoal old fool. Don't waste all® in your money. Get out of this and put®^ what is left in the banlc." And ®* , hurried him away to Rotorua. Arrived there 'he .evidently exclaim-®1' ed with Marshall McMahon "J'y suis®6?11 et j'y reste." Going thith'er in abo,u®/n a week I searched out my friend aiM® I found him in an auction mart seated® ° in an easy chaar in the; front row®^ and exhibiting only the very slight®111^ est signs of sohriety. He was on the®,3. point of becoming the possessor of®/. ia piano, when I stopped the proceed®" •ings, dragged him out and hunted him®Ui off home. Returning myself a couple® of days later I halted at the half® way house for lunch. Up rushed my ® AL friendi Wharerangi flourishing a che®AT que hook with a few unusStT f orms in ■ 1 it. 8 "You the had man e h'oa. The hani® 1 you tell me ,put my money in .jio® good. He sell me the cheque hook® now he won't pay the, cheque." I ®ab: found he had been putting in con-® d siderable overtime at the bar of tfie B^u' 'house, shouting not only beer but V ^ cheques on this rotten bank run on 8°, 1 its antiquated, conservatave lines, B®1 and giving no adequate assistance to ®^ c consumption of the abundance of ®a' good things of physical life! So he B = had to return to toil and I gave hini 8 the job of building a bridge; and BlS against the job I supplied consider- B able stores in accordance with well- ®V1 established custom. .Materials assem- ®E! bled ou the site, I sent word to my B friend and re.ceived a rep-ly to the ef- B fect "Wharerangi is engaged in an 8 •interesting biUiard tournament but Bail' hopes to he able to come in a day oi- ®d, two." Consequently I got to work 8fi i with my own men by the end of ten ®Se days when Wharerangi and his men »tb arrived, the work was nearly finished. ®a But the stores were outstanding! Baii No Appearance 8ge Later I offered him another job to ® ' alter my store; and, to get ready, I 8. ■shifted the stock out. Again no ap- 8/ pearance so bucked in and did the 801 job myself. A few days later along 8 , happens IWlfarerangi. Entering the 8 store he exclaimed "Awe! Who the B. carpenter man?" In my pride and 8 neglect of grammar I exclaimed B-r "Me." ■1 And so things drifted for about 9 i eighteen months when, meeting the ■ old chap, I said "Look here Rangi, if S you don't pay for those stores I'll 1 have to take out a summons." Then I was it that he uttered the fatal words iSi so often quoted by Douglas Social 9m Creditors "I got no money." Conse- 9a quently it was agreed that I should 9i give him work and I said "Be sure 9 to come on Monday morning." He 9e solemnly promised. ® Monday no Wharerangi. Tuesday 9i no Wharerangi. Wednesday he arriv- 9 ed. "Look here, Rangi, what do you Bs mean by it. You promised faithfully B'g to be here on Monday morning. You're Bl a waster." "Y,ou mistake, e hoa; we 9t have big meeting, we talk all night." ® "Quite likely," I said, "youYe chamP'ions to waste time." "You mistake; we have the big bishness: we get a hundred pounds!" "What on earth are you going to do with it?" I enquired "We make the bank all the same the Pakeha lend the money the Maori." "My oath!" I exclaimed, "and what security are you going to get?" "Must be the good man, e hoa. The committee must like him." "And what interest will you charge?" "Three shillings in the £ the month." "You infernal usurers," I gasped "you'll get put in gaol." "We have the long talk that way, e hoa. Some man say 1/- in the £1 the month,. but we fix 3/- in the £1 th'e month. That the way make him grow quick." "You are. in error by only two letters," I i*eplied. "The money will go quick." Buried It Next day the head of the tribe was over to help me with sheep work when I said "Waimarama, old chap, is it true thiat you are. chairman of th'e Ohaki Bank?" "Ka tika* (quite correct)" he answered. 'TWell, look here, my men want to get that £100," I said. "By gorry. I bury hina all the same the dead man. Your man neyer find him," was his convineing but disappointing reply. I •The history of the O'hiaki Maori Banking Co. was brief. Business proceeded merrily for a month by which time .£60 had been lent out to various members of the tribq. No penny of it either principal or interest has ever been paid back. The remaining £40 was deposited in the Post Office Savings Bank at 31 per cent per annum and has long since been spent iai enjoyable entertainmentsi reflecting great credit on the tribe. ! And so another eacperiment in banking for the benefit of the people failed. Doubtless those wicked German Jew financiers of New York wrought its ruin in order to sustain their timeworn, worm-eaten out-of-date theories.