SECOND EDITION. Wairarapa Daily Times. [Established 1874.] THURSDAY, SEPT. 20, 1894. BANK AMALGAMATION

Wairarapa Daily Times, Volume XV, Issue 4830, 20 September 1894, Page 2

SECOND EDITION. Wairarapa Daily Times. [Established 1874.] THURSDAY, SEPT. 20, 1894. BANK AMALGAMATION

In the arrangement made to relieve the Bank of New Zealand by a State guarauteo of two millions, tlio Government and not the House took the responsibility. In the further arrangement now to be concluded for the amalgamation of the Bank of New Zealand with tlio Colonial Bank, the Houso will have to take tlio responsibility, and the Government act rightly in approaching the issue with extreme caution ami deliberation, On the first occasion insufficient caution was displayed, [hence the present trouble. But the Government were in a dilemma, and the bold step ! adopted was, we believe, the best outcome of the difficulty Of course it is not the business of a Government to wash dirty linen for Banks, but exceptional circumstances compelled the Government to take an exceptional course, and we for one hold that the Ministry o« this occasion did good service to the Colony. Having washed dirty linen for one Bank, another at once puts forward a claim for its soiled garments to be cleansed, and it is possible that even a vV'rd may be getting its basket ready for the State laundry. The Government lias escaped one dilemma only to fall into another, but the latter is certainly less sorious than the former. The State having set up a laundry for banking institutions must go through the lot. On this occasion there must be no holding back of dirty linen on the part of any institution. The question is not a party one, for Opposition members' will be as anxious as Government supporters to see the troubles of financial institutions terminated. On a question of this kind Mr Ward will. have the sympathy and assistance of the best men in the House, irrespective of party, If any feeling is manifested at all it will emanate from a few who have taken up briefs for particular banks. One eveningpaper for example in Wellington seems to be acting as counsel for the Bank of New Zealand, and another as counsel for the Colonial Bank, and both may be of somo service in bringing out all that may be said for: or against the claims of either institution, but the real issuo is the credit and welfare of the Colony, and we hope to see the question of amalgamation or of further aid from the State, determined from this standpoint. . j