AN OUTSPOKEN MINISTER

Dominion, Volume 6, Issue 1771, 9 June 1913, Page 5

AN OUTSPOKEN MINISTER

MR. FRASER DOES NOT MINCE

MATTERS,

LUXURIES AND NECESSITIES.

(By Telegraph.— Pray Association.) Chrlstchurch, .Tune 8, An interesting speech was made by tin Hon. W. I'rascr last evening nt a com* plimentary social tendered liiin atWaian. Points he specially touched upon were in reference to (he unnecessary and luxurious expenditure upon public buildings, and various aspects of finance. Mr. Eraser, who lias received with prolonged applause, declined to make a political speechi but ho heartily (hanked his audience Cor his reception. "Kel'erenco," Jie continued, was at times niudo to tho spending of money on luxuries in tho way of public buildings. Did iicople know that in some'years'in the past mora money had been spent on public buildings than on roads and bridges? Imaotnp that sort of tiling happening in J,'ow Zealand, which was a .young country and required development. TJiey could not of- . ford to borrow money for public works ond spend it in sucli a fashion. There was a building in Christcliurch—the new Government Hiiilditigs—which was a very handsome structure. He admitted it was wanted and it would 1» an ornament to Christcliurch, but at the siime time lie thought that, • considering the purposes for which it was designed, the whole thing could have boon supplied for a great deal less money. It was 100 elaborate, and wo could not afford that sort of thing. He was not responsible for if, and did not blame tho past Governments for it. but (lie people themselves. What should bo done first was to make Iho conditions of the man on the land easier by giving him better communication with the markets" in t lie towns. That was the policy of tho present Government. (Schools were necessary. but they should not be (no eloborot'!- He declared that (he buildings thai' chiefly sinned because of elaborateness were post offices and clock towers. Why, he know of places in X<nv Zealand which, with four or five hundred people, had received .C2OOD or .£3OOO for their post office. In (he future he wa.s going to disappoint such people. If ho was abufed for it and called parsimonious, ho would, not mind. That criticism would roll off him like water off a duck's back. Last session he had said roads and bridges were, more necessary than, railways,, and ho still held (o that. Ho not believe in people expecting a Government which had been, in office only ten mouths to accomplish more than Governments which had been in office ten or twenty years. That was not reasonable. They eould not further expect men to accept the responsibilities of a Minister's position and the duties thus involved, and receive as his reward only abuse. However, ho knew (his country pretty well, and ho knew that was not tho only reward.. t Ho knew that wlion ( man tried to do his best it was recognised, Ho had a right to say this, because he had represented tho same constituency for twenty years. Ho had always had to 'fight for his seat, but people recognised that ho was doing bis best for tho country of his adoption, Tho namo spirit animated himself and his colleagues, and their aim was to encourage tho prosperity and progress of the country, Tho Government had had many difficulties to contend with in tho way of finance, and in tho absence of Mr. Allen in tbo Old Country be (tho speaker) htid been Act-ing-Minister for Finance, and, speaking with a fair knowledge of the difficulties that Mr. Allen had had to contend with, he could say that ho had teen eminently successful. He obtained money when money was not easily obtainable, and on terms which wo had not been fortunate, enough to secure for many years past. Loans bad been floated, .certainly, at 3} per cent., but .they..did. not. imagine, -did they, that they were getting money at that rato? That was tho amount the debenture bore, but they were not told ike discounts for tho last two loans. We had paid 5 per cent., but Mr. Allen's loan was for thirty years at nil actual cost of £4 ss. Mr, Fraser proceeded to condemn tho system of short-dated debentures. A young country, he said, needed to borrow' money, because it could not carry on public works and development sufficiently rapidly with revenue only, but in regard to that borrowing he would ask was it. wiser to borrow for a fixed term of 80 or 40 years, when they would not bo bothered again till the end of that time, or tfi borrow on short-dated debentures, which necessitated tho borrowing of further money to pay them off. Borrowing money at four or five year terms, and even less, was not good business. He hod fought short-dated debentures in tho House for years, ond now he thought no member would stand up and defend them. Jle believed that Mr. Allen had, in spito of difficulties, come back with the money available for our immediate reauirements. The system upon which the Government obtained this money would Iw continued in the future, and there would he no more short-dated debentures, so long as this Government remained in office, and ho hoped no other Executive would ever again indulgo in such bad financial tricks. It was gambling in futures, and in the hope that tlio market would become moro favourable, but it had never become so in the post. "If I Imvo boon called a pessimist," said Mr. Fraser. "perhaps I am. but T think' myself I am rather optimistic." He believed in the country, anil ho would not endanger the future of this country. Ho would not commit himself to other engagements which ho could not meet. People had come to him, and said "Thank God. there is somebody at last wli" will fell the truth." Re believed in that policy. In conclusion, he said the Government desired to carry out a number of reforms, such as Government and legislative Council Reform, and if it did not do that it would not bo its fault.