measure,” he said with significance, “it should be put through to-day.”
The Cabinet met and discussed the position, and Mr. Murray attended the meeting and explained the whole position. The same day, Mr. Seddon conferred with Sir William Russell, Leader of the Opposition, Sir Robert Stout, and Mr. Mitchelson; and Sir Joseph Ward saw the Hon. G. McLean (a member of the Legislative Council, and an authority on banking matters), Sir Robert Stout, and Mr. H. D. Bell, one of the members for Wellington. The Government was led to take this action because it felt that all party feeling should be sunk, and that the Opposition had as much interest as the Government in saving the bank and the colony.
The Government took what steps could be taken in so short a time to ascertain the position in all its bearings, and to see how far the bank’s proposal would be likely to lead the State. Mr. Seddon and Sir Joseph tried to reduce the colony’s responsibility in various directions. They thought out several schemes that would lead to a settlement of the difficulty. They were anxious to get more time, but it was too late, and the more the Government delayed the worse the position became. Some inkling of the trouble had gone abroad, and it was seen that if nothing was done on Friday night, there would be a run on the bank on Saturday morning, and the inevitable panic on Monday.
It was then Friday, and the bank had said in terms that could not be doubted that it would not be able to carry on without assistance beyond Monday. On Friday afternoon, a Bill was rapidly but carefully drafted, ready to be presented to the House in the evening.
The rumour that went about in political circles when it became known that some specially important legislation was pending was that a no-confidence motion would be moved against the Government. Then it was stated that the Legislative Council had made preparations for the unusual course of holding an evening sitting, and it gradually became generally known that Ministers, in conjunction with Sir Robert Stout, who was consulted professionally, were drafting a Bill to save an
