NEARING THE END

Gisborne Herald, Volume LXVI, Issue 20047, 20 September 1939, Page 11

NEARING THE END

BUSINESS OF SESSION WAR TAXATION AWAITED CHECK TO PROFITEERING C.URR ENCY M ANIPURATION (Parliamentary Reporter.) WELLINGTON, this day. Marking time until the introduction of the war finance measures, the House of Representatives yesterday paid attention to a Jew minor bills.

Members, realising that there was no urgency about clearing the order paper, devoted themseives to leisurely discussion of various phases of lanci settlement while debating the second .eading of die Small Farms Settlement Bill. Perhaps .o their surprise .he adjournment hour was reached vvi.h the measure still awaiting the econa reading. The Native Purposes Bill and the joeal Legislation Bill, introduced by Governor’s message prior to the djournment, were further indications .hat the session is close to its end. The acting Prime Minister, the Hon. P. Fraser, in reply to an Opposition question, suggested pleasantly that if everyone worked harmoniously the House might complete the work of the session on Friday, but discounted this optimism when tiie Rt. Hon. G. W. Forbes (Nat., Hurunui) inquired if the Government was ready with its war taxation measure.

“Not to-morrow,’’ replied Mr. Fraser. The present condition of the nation shall not bo used either for national proft, or for Hie profit of individuals, stated the Minister of Finance, .he Hon. W. Nash, when he was ■ep’.vir.g to a question by Mr. C. L. Carr (Lab., Timnru). The questioner suggested that, as the dollar was now so high in relation to sterling, the Minister .should, see that in sales of New Zealand produce allowance was made for any reduction in the value of English currency. He made particular reference to the sales of New Zealand wool to America and suggested that it should be done on the basis of optional payment in gold, English sterling or American currency of the value prevailing as at August 31; otherwise the British Government, by receiving payment in American dollars, might make a very handsome profit out of the present depreciated New Zealand and English currencies. t The Minister, in giving an assurance that no opportunity would he given for making handsome profits, stated mat arrangements were being made to place the full resources ot New Zealand at the disposal of the United Kingdom and an endeavour would be made to arrange some procedure which would avoid any injustice, either to New Zealand or the United Kingdom.