BOYCOTTING A BANK’S NOTES.

Temuka Leader, Issue 2064, 26 June 1890, Page 4

BOYCOTTING A BANK’S NOTES.

The latest phrase of the labour struggle, which seems te be becoming universal, is a somewhat curious, not to say comical, one. It is said, the Dunedin Herald reports, that a local bank issued a private circular to a number of Dunedin capitalists, calling upon them to attend a secret conference with the object of arranging to exert united influence unon the House of Representatives in the interest of capital, and with a view to lay down some common basis of action in connection with the forthcoming general elections. A certain influential labor organisation was informed of this proceeding, and on making inquires found that the large majority of the capitalists summoned to the conference were more or less connected with the bank. The labor representatives thereupon sent an intimation to the bank in question that if they persisted in their efforts the organisation in question would boycott their notes. As there was no doubt as to their power to do this, and the injury to the bank by such a proceeding would be incalculable, the bank deemed discretion the better

part, and the conference was given up, in the meantime at all events. Whether the bank will resume more secret tactics, and which may be as justifiable from its point ot view as labor union is to a working man, remains to be seen. At all events the labor struggle has entered upon a most curious and interesting phase, if it be true that advantage is taken of a bank’s liability paper to prevent it forming a capitalists’ union, The representative of labor who placed the weapon in the hands of his party deserves very considerable credit from his fellows for his shrewdness.