PARLIAMENT.

Evening Star, Volume VIII, Issue 2289, 7 September 1870, Page 2

PARLIAMENT.

OTAGO LOAN BILL.

The following is a continuation of the speech delivered by Mr Macandrew in the House of Ecpresentutives on the 29th ult.: — He would wish to draw the attention of the House, even though he trespassed for a short time «n its patience, to' the objects sought to be attained by the proposed loan. In the first place, they ashed for L50,()00 for immigration, to be extended over a period of three years. That was to be supplemented by an annual vote out of revenue. It was proposed to expend double that amount in the three years. There was no doubt that the expenditure of that amount would be highly reproductive, both to the Province and to the olony. There was no expenditure upon which they could enter that would be more beneficial or more reproductive, 'there was no liability connected with it. Although the Government proposal provides for immigration, they would still prefer to

have the immigration in their own hands, as they had half the amount under their own control. Next there was L 400,000 for the Southern Trunk Railway. There was no necessity, however, for them to avail themselves of the power to borrow that sum, even if the House were disposed to grant it, because advices had been received from tho contractors for the construction of the railway between Launceston and Hobart Town, offering to construct this railway for a guarantee of 6 per cent, per annum, th» Province to have power to acquire possession of the railway after five years. Ho believed that that work could be carried out,, under Provincial powers, without reference to the General Assembly. Tho Province had power to carry out that railway by means of a public company. They might, therefore, look upon that sum of 1/400,000 as diminishing by so much the sum of L 650,000 proposed to be borrowed. At the same time, it was well to have more thau one string to their bow. The next item was the water supply to the goldfields, LIOO,OOO. The Government proposal provided to a certain extent for that; but he did not know what proportion of the Government amount was to be made applicable to the Province of Otago. The Provincial Council were of opinion that LIOO,OOO might be profitably employed in that direction within tho next twelve months. There was no pait of the proposal that would recoup itself more quickly than that sum. The next object could not be called reproductive—the item for the embankment of rivers, L 50.000. He wished to call the attention of tho House to what was meant by that—son e of tho most fertile portions of the Province of Otago, such as the plains of the Taieri and the island of Inch Clutha, were in great danger of being totally destroyed by floods, and unless something was done to protect those large tracts of agricultural country from inundations, the loss to the Province and to individuals was almost incalculable* The Provincial Council, in agreeing to expend L5l),000 on the cnbankment of rivers, were quite aware that it would take four or five times that amount to remedy the evil effectual!}'. That amount would be granted by way of supplement to the efforts of the owners of private property concerned. There was no provision for this in the Government proposals ; and that was one reason why he asked the House to agree to the r solution. The next works—the Oamavu harbor works —were fully referred to last session, when the House agreed to allow the Province to ' raise the sum of L 50.000 to be appropriated for harbor works, of which ! 20,000 was to be devoted towards this object. There were stronger reasons at the present time for tho House agreeing to that proposal than ; existed last year, inasmuch ns further engineering advice had been obtained on the ' subject ; and, although some persons who * know nothing about the matter affected to > laugh at the idea, judging from tho reports ■ of scientific and practical men that object I was not only practicable, but, if carried out, would bo eminently reproductive. There ; was not a finer district in the Colony than l tlie northern part of the district of Otago, i and, if even a great trunk railway were made, a harbor at Oamaru was absolutely i essential. He might state that L 20.000 1 were to be devoted to tins work out of current revenue, and unless the amount was supplemented to an equal extent out of loan, 1 the work must be prolonged for many years more than it ought to be ; the initiative had already been tiken, and the Province was bound to see it carried through if the work could be done for the money. The next items were Waikouaiti, L 8,000; Kakunui, L 6,000 ; Waitaki bridge, L 10,000; and Shag River bridge, which was a very important work, and which, he was sorry to say, they could not accomplish out of the ordinary revenue at their disposal. He had just learned that a life was recently lost at the very place where it was proposed to put the bridge. The Lower Mataura bridge was another very important work which was urgently required. These two bridges would cost about L 6.000. Although L 560,000 of the whole amount was included in the Government proposals, he thought that the other objects, requiring for their accomplishment L 90,000, were equally as important to the interest of the Province of Otago rs : those professed to be effected by the Gener | ’ Government loan to the extent of L560,0f(‘, He trusted that he had succeeded in makii g it plain that the Province had ample msa-s whereby to indemnify the Colony against any possible loss or risk in respect of this loan. He might make it still more clear by s showing the extent to which the publ c assets of the Province exceeded its liabilities. He believed that, after allowing an ample margin, the assets of the Province might be estimated at about four millions sterling qftep providing for Ps loan liabilities. That was the security which they had to offer over and above the : r annual revenue. He knew perfectly well that there were lion, members in the House who were determined to set their faces against provincial loans—in fact, to set their faces indiscriminately against such loans, without reference either to the • power or the right of any Province to borrow. He ventured to hope, however, although he was afraid it was hoping against hope, that that doctrine was confined exclusively to what he might call the political fossils of the House. He hoped that none of those who had the slightest progressive teq. dcucic-8 would countenance that doctrine fop a moment. What ho maintained was, that any Province which came forward with equal claims to those of Otago had a perfect right to receive consideration at the hands of the House, not as a matter of favor, but as a matter of right. He should regret verymuch if the policy of the Government would have the effect of shelving any of those great undertakings for which he sought this loan. He would like to know fr ni the Colonial Treasurer, whether or not the Government would agr e to recognise those works by reducing the amount to LOO,OOO instead of 1 L(io(l,000. He would be content to take the decision of the House upon his motion on tho voices. He regretted very much that, as he was replying, other bon. members would be precluded from speaking. Had it been otherwise, he felt assured that there wepo many lion, members who would have sup; ported tho views which he had endeavored to bring forward, and probably have urged them with far more abil ty than he had done. Question put, “ That tha motion be agreed to,” upon which a division was called, with the following re -.nit - ; —Ayes, 18 ; noes, 26 majority against, 8. Ayes— Messrs Barff, Borlase, Bradshaw, Brown, Bunny, Carrington, Driver, H. S. Harrison, W. H. Harrison, Main M'Gillivray, M‘lndoe, Mervyn, O’Neill, Williamson, W. Wood. Tellers —Messrs Birch and Macandrew. Noes—Messrs Armstrong, Baigcut, Clark,

Collins, Creighton, Curtis, Dignan, Hall, Jollie, Ludlam, M'Lean, Moorchousc, Rarker Peacock, Richmond, Rolleston, Stafford, Stevens, Studholrae, Swan, Tancred, Taylor, Vogel, Wells. Tellers— Messrs Oarleton and J. 0. Wilson, C. B. The motionjwas consequently negatived.