The Temuka Leader SATURDAY, JULY 12, 1884. THE PROPOSED GOVERNMENT BANK.

Temuka Leader, Issue 1203, 12 July 1884, Page 2

The Temuka Leader SATURDAY, JULY 12, 1884. THE PROPOSED GOVERNMENT BANK.

Mr W. C. Walter, a candidate for the representation of Ashburton in Parliament, said the other evening at Methven that "ft was possible to make a Government National Bank a commercial success, but it would be an enormous lever, 6Uch as he would not trust any Ministry with." The light is spreading. Mr Twomey's bank scheme was criticised in the Ashburton Guardian, and from reports of the meetings held in that district it appears to be gaining ground. It givas us much pleasure to notice that two such men as Mr W. C. Walker, and the Rev. T. Jasper Smythe agree in the main that the principle is right. It is needless to say that the Rev. Mr Smythe is a very able maD. He has distinguished himself in his native country, and the suggestions he made to the Government in respect to improving the condition of the Irish peasantry have been to a certain extent adopted. Mr W. 0. Walker is another able man, who has won honors at Cambridge, and held the position of Chairman of the Ashburton County Council ever Bince it baa been established. To find so experienced, and so highly educated a man as Mr Walker asserting that it was possible to make a Government Bank a commercial success goes far towards proving that the principle laid down v in Mr Twomey's scheme is right. "We cannot however, agree with the conclusion Mr Walker comes to. He says that "it would be an enormous lever, such as he would not be inclined to trust any Government with." Ihis is absurd. Would is not be far better to have this leVer in the hands of the Government t)ian in the hands of the Bank of New Zealand, or any other monetary institution? The objection which Mr Walker raised to the scheme is the greatest argument in its favor. We are told now that the Bank of New Zenland and kindred institutions control the legislature, and if that be so, surely to release the Government from such an influeDce would benefit the country.