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Wairarapa Daily Times, Volume 2, Issue 282, 6 October 1879, Page 2

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a> ImNgHwßmg (From the Mew Zealanfl|ra«f^ffl We have it on authorit)jHMHg|BM of Mew Zealand, being MHfeßi the terms on which the count is now held, has givffinK9Bj| provided by the agreement fsH£|mS| nation of the existing may be assumed the directors have Trelr® considered before talcing such an important step, which shows a very different appreciation of the value of the account I to that held by those who have not experi-ffl ence of its working. We are not in J| position to express an opinion merits of the question, adopted by the bank leaves the Government free to take whatever action may be most conducive to the welfare of the colony. The notice given by the bank has all the more significance in the fact that the account is likely for some time to be largely in credit by the contemplated negotiation of the five million loan, which proves that it cannot havfljvjen the anticipation of being called advances which led the directors tCTSMfyjse they have adopted. Looked at frcH .colonial point of view, we think the severance of a ( connection which has existed for years is to be regretted, as the long continuance of that connection may of itself bo assumed to be the best proof that, on the whole the requirements of the Government have been well met by the bank. It is not to be supposed that'any establishment would incur the heavy expenses and responsibilities connected with the account without a fair profit; and if the point involved is only a question of terms, we should think the Colonial Treasurer will see it to be to the interest of the Colony to have these revised, rather than incur the many inconveniences which a radicalahpge would involve. ■ In giving this notice, however, the directors no doubt contemplate the possi- J bility of losing the account, and haven counted the cost; and from this view it will be satisfactory to thgflHH

holdora of tlio bank to v bo assured that in the step now taken their interests have not been neglected, Wo have _ already pressed our opinion on the subject of a divided banking account, the working of which has proved so unsatisfactory in other colonies, and the only merit of which is that it makes the banks the masters of the situation, and enables them successfully to withstand pressure by the Government which a singlo bank could not well resist. From a banking standpoint, a combination of banks is their safety; but we do not envy the the position of a Colonial Treasurer who is obliged to face sueli kfiuei.co at a time when he requires advances, There will no doubt be more light thrown \ipon this matter during the present session of Parliament, and we propose to return to the subject at future time.