The Pamphlet Collection of Sir Robert Stout: Volume 40
To the Colonial Treasurer, the Hon. H. A. Atkinson
To the Colonial Treasurer, the Hon. H. A. Atkinson.
Sir,—I have decided, on reflection, to address this pamphlet to you, and may state that I intend to review the condition of the Bank after each future half-yearly meeting, in one of the newspapers in the colony, until different banking arrangements are made by the Government of the day, to those now existing. It was you who made the last, agreement with the Bank for the custody of the Public Funds, after you had demonstrated to the Country the profitableness of borrowing money at five per cent, and lending it at four. The rare skill you display in arranging the Public Accounts precludes the supposition that you will have any difficulty in understanding the finance of a bank when it is explained to you. We all confess that you are our only safe guide in financial matters, as on several occasions, for the satisfaction of the bondholder and the maintenance of the credit of the Colony, you have changed the annual yearly deficit in our revenue into a substantial surplus. I now invite your attention and solicit your aid to the solution of a more difficult problem. Dealing mainly with the finance of the Bank since you saved the Colony from impending ruin in 1879 by impairing its credit, and questioning its solvency, it will be seen by a carefully compiled table, how different was the condition of the Bunk of New Zealand in 1870, before your friends began your "heroic policy of colonization." Having told the people that the Property Tax is an aid to improvements, you will find no difficulty in dealing with the lesser issues I have raised. Your known integrity as a politician, and your stern truthfulness as a party man, will save you from the reproach of being thought the tool of a mercantile corporation desirous of controlling the finance and the policy of the Government of New Zealand, when the agreement you made with the Bank in 1880 is generally understood. Those who appreciate these facts will recognize the propriety of this dedication.—I have the honor to be, Sir, your most obedient servant,
Richard A. A. Sherrin.
Auckland,November 5th, 1881.