CONCLUSION OF THE FINANCIAL DEBATE.

Auckland Star, Volume I, Issue 170, 26 July 1870, Page 2

CONCLUSION OF THE FINANCIAL DEBATE.

IMMIGRATION AND ROADS IN THE NORTH TO BE PROCEEDED, WITH AT ONCE. • %. 'Yd

77 .-■-.. Thursday, Jjily 210, Mb. Db_T-.e, last evening, supported the proposals ,pj.''the -Government, but insisted on precautions to prevent the money being wasted, and suggested;-with that, view, tho appojnt-mentof-aMinistel-of.WorK^ He was strongly ppposed-^td^Proviucial Governments having anything to do with the expenditure; and regretted-that the proposals had not been accompanied by a scheme to remodel the political institutions of the country. Whatever good Provincial Governments had done in the past, they were only productive^ harm now. He approved of the construction of railways on guarantee, but was opposedto payment being made in land. -_Te believed, in. conclusion,. that\a, refusal to accept the Imperial guarantee.w-uld greatly raise the .credit pf the colony. ; - Mr. Eyes supported the proposals in their, entirety; He thought it would be a great mistake not to consult the Provincial Govern-, ments in tho,-matter of the expenditure. Mr. Vog'el, in reply, spoke three'- and a half hours. He made an admirable speech, and Was loudly cheered throughout. The first three houra was devoted' to a review of previous speeches, aud to ahswering the arguments adduced against the proposals. He said that there was. nothing against further borrowing, in the alleged pledge given by tW Commissioners. -,He read a private Jej^fcr from Dr. Featherston, to tly. effect that City men had.urged upon the Commissioners the, acceptance of the Imperial guarantee for the halt" million, saying, that the colony could, upon its own credit, raise at^-low rates anyfuitlier sum that might be required for legiti-' mate public undertakings? The colony -had only to ask for money .and receive it; that is if no further change of government took place. Unless war was tj> -be regarded as the normal condition of the colony, it was not living beyond its income. It was a fact that, since 1853, the colony had spent five nine hundred and fifteen thousand pounds sterling, on war and native purposes. With rcgar t to tho proposals of the Goverrfajent, it was not intended, immediately to calfry but all the proposed loan or public works; the bills to be introduced by the Government were simply to supply the macliinery for doing so as it wasffound desirable. He read a letter he had just received from Messrs.Charles Fox and Sons, of London offering to construct on guarantee lines of railway suited to the colony at from £3000 to £4000 per mile. He proceeded to review at game length the roasons for and against appealing to the country before finally proceeding with tho measures. The Government had. dfecidpd to lpodify' their proposals ; and if, after ' waiting a few days, the House was disposed to accept such modifications ministers would go on with the Bills ; but they would not consent to allow them to be torn up and mangled in committee by crude., amendments. They, would rathei*, in shjor*}, withdraw ,the Bills if they would not be accepted in their modified form. The modifications proposed were as follows :—To efface the " railway ' schedule—tho Government during the recess, to obtain all information, legarding proposed railways, leaving "to next -parliament to decide upon that information, what lines should be constructed. It was also proposed to reduce the loan from six to four millions to bo apportioned as follows :—One million to misceUaneous purposes i one million to immigration ; and two millions to railways. A separate amount for the purchase of land in the North _ Island was not: necessary, amount previously set down for the purchase of native lands would* Ibe reduced one-half, say to £100,000 -, and t_e sum for the supply of water to the goldfic-lds be correspondingly increased from £200,000 to £300,000. It wus intended to provide macliinery for keeping- the loan accounts'*'feivtirely distinct from those of all other moneys; also, to have one central immigration agency in tho United Kingdom, to *** I~gl| the various provincial agencies woulcl bo subordinate. With regard to the proposed alteration in the tariff, members of the,ministry Tyo\ild vote for tlie ,new duties, but.: the I Government would leave this an open question, and would not.object to their rejection this session, believing that the, country,, at,.tho new elections, would .signify ,thpir.approval of the proposed alterationsr In deference to the suggestion made by Mr. Travers, he would withdraw,tbe ; prpposed bonus ony thef inppor' tation of Australian wine, and bring down a Bill, instead, legalising their admisiion at a -differential rate of duty. The new loan would bo placed in the market at such a rate as would ensure that purpha_er,s / .vould not receive piore" tliai. simper .cent _ interest. Governm en would consent to excision of Clause 22 of th.f Public Works Bill. They would adhere to the proposed-five ye»rs| loan for c^|lr noses of* dtf fence, ibiit yrp>u!d« -consent, _„; Kb *n/ annual appropriation, so tbat the matter would still remain in the. hands of Parliament. It had .been .asked .;by* 'Mr. Rolleston whether the Government would refuse the Imperial guarantee if the. conditions^ attached to the; -same Were __6h that' the million loan would not fall in with the:,,general sohenie.., In reply, -.the. Government was not yet aware what those conditions .were. If .they .precluded 7tho Colony from further borrowing till the million loan was taken up, ministers, would,in such, case, refuse to accept the guarantee. The commissioners would bo. instractedJto ende.av.qr, to obtaintTie Imperial guarantee at a low rate, for a short period, say 15 ygara^ *fpiv $ie whole four million, instead of, as at, present, a 40 years' gunrantse-forjOnsmilliqiu.. He. believed, indeed, that such ah arrangement would better suit the policy of the, Imperial' Government .: Jn reply to" some remains that h t ii fallen from; Mr. Barff, he would not consent ,tq* make,, the capitation grant applicable only, tp adult^nale^.. To encourage the settlement, of families .and, the marriage .oft youngc^en;,'he, would make the infant born yesterday, as much entitled to a grant as an adult. In reply to a question by Mr. Poacpcke, no portion ofj theildan was _a„ tended for the construction of harbour works. The Goveruta_ht did not approve of t_.al.ing new harbours, and the improvement of existing ones could best be effected.by special Acts

forming local trusts with borrowing powers ft In reply to the remarks of Mr. Hull, no rail^ A way would be made without the special, authority of parliament. The proposal as toland grants wouldrenaii as in thafh mxeia. statement; but the four million loan was not* intended to include any guarantee on any railway parliament might authorise to btf constructed on that system. Mr. Vogcl was loudly cheered nt thr, eon . elusion of his speech, and tho resolution «_,„ agreed to on the voices—only two "noes" being given. ■Mr. Collins had an amendment rearly proposing to limit the expenditure for the current year to the guarautecd million, aud ' to take the voice of the country upon the ■ larger proposals ; but, after the modificatioui had been announced, he did Dot move it. Tifubsdat, July 2 , p.m. Government support tho Bill for the payment of common jurors,, and intend to 'abolish the present exemption of voliuateii's:"'******! Mr. Creighlon moved his resolution ons the 7 land question in* a very moderate v speed}/) / disclaiming all idea of spoliation, but accusing the Middle Island provinces of maladmi__t_^=a^ tion of the land revenue. _ Mr- Armstrong seconded the motion. • 7T_i ]fj Government opposed the 7. discussion. i nj. inopportune, and Mr. Bunny moved tlis previous question. A rather rambling an-3; acrimonious debate ensued—a gobd 'fmub^S of members making short speeches. The '-tiiom was eventually adjourned: *: I 1:1-I?,^