HOUSE OF REPRESENTATIVES.

Feilding Star, Volume XVI, Issue 45, 18 August 1894, Page 2

HOUSE OF REPRESENTATIVES.

LAND FOR SETTLEMENT BILL. THE BILL PASSED. The House met ai 2.80. The Land for Settlement Bill was further considered in Committee. Clause 10 : — The Colonial Treasurer may borrow money for the purposes of this Act without limit." Mr Earnshaw moved the aura to be borrowed should be £150,000 instead of £250,000. Sir Robert Stout supported the amendment. Tho Hon J. MclConzio pointed out if land be purchased at £5 jtraere he would only be able to purchase 50,000 I acres in o-.i e year, nud that amount could easily be disposed of in one year. Engagements had already been en tered for the expenditure of tho £250,---000 this year. Sir Robert Stout said this Bill vir tually proposed borrowing one million and a quarter, and if it wa3 passed iv its present fihape it would give the Legislative Council good reason for throwing it out. After a discussion lasting the whole of the afternoon MrEarnethuw's amend ment was rejected. In Committee in the evening on the Land for Settlement Bill, Mr Earnshaw proposed to reduce the amount to be borrowed by the liovernment to £200,000. The Minister strongly opposed this amendment which after 2 hours discussion was lost by 46 to 16, and the Clause passed. At Clause 21 relating to the nature and currency of debentures Sir Robert Stout said v.he Government Insurance Department; was one of the departments from which the money would be borrowed, and as the interest on debentures was fixed at four per cent the Government Office would be un able to compete with Foreign Offices without incurring loss. Mr Ward said the head of the Government Insurance Department was satisfied it would bo quite cafe to lend the insurance funds at 4 per cent. On Clause 17 (rental «nd capita) value), Mr G. W Russell moved an amendment in the direction of creating a sinking fund, but he was defeated by 42 to 8. On Clause 19, Lands to be disposed of under Land Acta on lease in perpetuity, or as small grazing runs, Mr G. W. Russell moved an amendment in favor of perpetual lease, which was opposed by tho Minister, and rejected after a long discussion by 40 to 11. Ail other efforts to amend the clause were futile. The remaining clauses were passed without alteration. The Bill was reported with the amendments which were agreed to and the third reading was fixed for Tuesday. The House rose at 4.45.