Bank of New Zealand

Taihape Daily Times, 7 December 1918, Page 6

Bank of New Zealand

(Continued from yesterday.) ' In view of all these circumstances, it is to be hoped that the imperative necessity of making the offending nations bear a substantial portion, if not the whole, of the war costs entailed upon the Allies in defeating their nefarious designs will be strenuously insisted upon at the Peace Conference. There should be no false and foolish sentimentalism or nambypambyism when settling scores with the German nation. Eecent disclosures prove beyond doubt that Germany was the real instigator of the war, and had made complete plans towards that end some time before th« actual declaration' of hostilities. It is therefore to be sincerely hoped that the abject appeals which the Hun is at present making to secure mitigation of the just punishment that is impending for his misdeeds will fall upon deaf cars and that the Allies will be inexorable in their terms. What, I ask, would have been the fate of the British Empire if the Hun, instead of being defeated, had been victorious? Let me quote an extract from the letter of a leading German — the late Herr Ballin—which was telegraphed out to the press quite recently He wrote a few days before his death, discussing the forecasts of the armistice terms, which he admitted were unexpectedly moderate, and remarked: —

. "If we had been the victors we •would have demanded the occupation of London and Paris, dictated terms at Buckingham Palace, and annexed the entire continent between the Urals and the Bay of Biscay." Let me also remind you of the iniquitous exactions to which poor Belgium has been subjected in order to provide for the maintenance of an army of occupation, which by all the laws of right and justice should never have been in Belgium territory at all. TJnqeustionably upon the British Dominions grievous burdens would have been laid. In these circumstances, therefore, there need be no hesitation on our part in demanding what is obviously only fair and just to ourselves and our Allies. Much will be made of the fact that Germany is. financially in & 'bankrupt state and unable at present to pay indemnities. That may be true; but if so, it is Germany's concern. She has brought it upon herself and can therefore be left to find ia way out of her own embarrassments. But Germany is not bankrupt in resources. Such is rich in natural wealth, and my firm opinion is that tihat natural wealth should be charged with the burden of the debt which the civilised freedom-loving nations of the world have had to incur to protect their liberties against German aggression. It should be arranged that specific taxes should be levied upon all Germany's primary products to provide for payment, within a reasonable period, of the Allied indebtedness, together with the interest thereon. In this way, the" magnitude of her iniquity and the inevitable consequences of crimes such as those of which Germany has been guilty, would be kept alive in the German mind for probably the next century, and would furnish one of the best guarantees against any reversion to militarism by the German nation. By the time her obligation had been discharged, the triumph of democracy would be complete My opinion is that the British Dominions, at any rate, should unequivocally demand to be indemnified against the liability which German greed and rapacity have forced upon them. If the wealthiest members of the Allied family desire to display generosity to the German nation, they can of course make any sacrifice they wish on their own account; but as far as the Dominions are concerned, full indemnification should be afforded.

The financial aspect is, moreover, Dot the only one that calls fox consideration. Here, at this trystin#placs of the ages, stand outraged Justice and afflicted Humanity, appealing to the champions of Right—Justice demanding vindication of her houour, and Humanity crying out for redress of her grievances. The victors cannot turn a deaf ear to their appeal. Those responsible for the perpetration of the countless inhumanities barbarisms, and iniquities that have made this war a horror of horrors should be arraigned at the bar of an international judicial tribunal and receive from that august Court the just punishment of their offences. The ex alted station of a culprit should have no influence upon the decrees of such Court. The braggart and blaspheming "All Highest," if shown to be responsible, should receive the same treatment as the lowest common soldier. Thus we shall perfect the work which our gallant dead have had to leave unfinished, and fill up the measure of their sacrifices, so that the splendour, of their completed achievement shall go down with undimmed lustre to a grateful posterity,, and shine for ever with an imperiahr.h": glory. . ... ■W. Watson said: I thank the

shareholders for again returning me to the Board unopposed, and assure them that I shall endeavour not to neglect their interests. The great ehan?ges in the business of Bank brought about by Ihe Government commandeer and purchase of the Dominion's principal products, the lack of shipping, the absence of so many men, and the necessary taxation and removal of money for war expenses, have undoubtedly affected banking profits and that expansion and growth of ordinary business whi'Cjh otherwise ■would have taken place. On the other hand the Bank's funds have been kept well and .safely employed during the period of. the war, and everyone will admit that there has been no war exploitation on its part. It is important to the Bank, as it is to you in your private capacities, that restitution should be made by the country's enemies not only of the money of which we have been depleted by their _ unprovoked war, but to provide the pensions and other demands consequent upon the deaths.and other war casualties. It is beside, the question to argue whether Germany can, or can not, pay these just claims. No such argument was entertained by Germany. when she bled France white, besides taking Alsace and Lorraine from her in IS7I. Neither was the Boxer indemnity remitted because China was unable tc ; pay; on the contrary her revenues were taken as security. It is nonsense to say that milder measures., should be adopted towards Germany with her large resources, and her peo pie who, socialists and all, supporte' the war and all its frightfulness with., bravado as long as they hoped to gain by it, and only changed to whining after defeat. It would be extremely, unjust that we and our descendants should be saddled with the debts ar<" taxation caused by the war. as well as having to endure the loss of those wlir can never be replaced. Let us trust that New Zealand's delegates to the Peace Conference will use their be endeavours to see that justice is done.