Wairarapa Daily Times. [Established 1874.] MONDAY, SEPTEMBER 2, 1895. THE BANK DEBATE.

Wairarapa Daily Times, Volume XVI, Issue 5119, 2 September 1895, Page 2

Wairarapa Daily Times. [Established 1874.] MONDAY, SEPTEMBER 2, 1895. THE BANK DEBATE.

I.v the small hours of Saturday morning, when weariness and excitement took members off their guard, the cat—the wild cat—was very nearly let out of its bag, and the public were very nearly being allowed behind the scones; indeed one almost caught a glimpse of a certain animal in the Ministerial cupboard, There is of course a mysterious cog in the " wheel within a wheel," which must not be mentioned, a somebody behind the Bank which is behind the other Bank, who may not be named. Tbo House freely discussed the " other Bank," and there were palpable allusions to tho men who are pulling the Parliamentary strings, but nothing more than this, Tho dirty linen is not to be washed in public. I'ivevybody knows that there is dirty linen, and that there are very strong reasons why this dirty linen should bo kept in the background. The same influences which have kept "the whole truth" back in the Houss of Representatives will be exerted to restrain it from coming out in the Legislative Council. The next scene in the play will bo on Friday next, when the shareholders meet, and here again wo must not expect "the wholo truth "to make its appearance. If the shareholders do not comply with the wishes of Government they will probably be punished by being galled upon to pay all the uncalled liability on their, shares. Tho shareholders ought to be able to soil the goodwill of their business either to the Government or to a Bank syndicate, and to retire altogether from the concern. But will they bo allowed lo do this, and have they not been bound hand and foot and placed on the mercy of the Government, ptyerybody is anxious for a, speedy mid satisfactory ending to this financial trouble, hut there can be no immediate settlement of it, for nothing can be really determined without special meetings of Bank shareholders. The tjuestlon that must and will crop up is whethor the shareholders, as well as theAssels Company, ought not tohp detached from the Bank. The true policy of tho shareholders isundoubtedly to amalgamate with a strong Bank or to sell out to a strong Bank, but tho poor shareholders are flattened out, liko the little dog on which theelepliant'sfeetwasplanted, mid may simply have to do what they'are told, The Bank and its shureuohjet's aro jammed in apoliti3<ll vice, and the (ijiauce of either being oxtricated is som.owb.afc rtopte.;

Wb heard last week u.N.z, notes, of a timid man who ! offered to sell a pound Bank of New Zealand note for eighteen shillings. Lest there bo others like him in the community we may explain that after the proclamation lapses, which makes such notes a legal tender, tho holders of thorn can demand gold in exchange at tho hank, and in the event of their not obtaining it, they can seenro it by presenting tho notes at the Treasury any time within tho next six months, As we understand it, all tho Bank of New Zealand notes,now in circulation, are covered by the Government guarantee, and are payable in gold eitherattho Bank which issued them or at the Treasury.