PARLIAMENTARY.

Globe, Volume VIII, Issue 1072, 4 December 1877, Page 2

PARLIAMENTARY.

Last Night's Proceedings. Wellington, December 4. Sir George Grey moved the second reading of the Financial Arrangements Bill, and explained its operation to be to equalise the expenditure and income as far as possible by making the land fund colonial revenue. He pointed out the advantages of this ; 20 per cent, would be saved for local purposes. Next year steps would be taken to secure better that this percentage should be devoted to opening up the country. For the present it was thought desirable to distribute it without restriction. Even taking the land fund, the revenue would at the end of the year show a deficit of £138,000, taking as correct the estimates of the late Ministry. This deficit they hoped to be able to rediice or extinguish by savings in expenditure and similar ways. Major Atkinson demanded from the Government a clear, plain balance-sheet of the estimated revenue and expenditure for the next six months. He contended there was really a deficit of £318,000, and no means whatever were proposed for meeting it. The suplementary estimates and provincial liabilities would actually increase the deficit to £BOO,OOO. This was the way the equilibrium between revenue and expenditure was to be restored. Although not opposing the taking of the land fund for the use of the colony, he criticised the details of the Bill adversely. Mr Bees replied to Major Atkinson's figures, and supported the ministerial proposals. Mr Bowen opposed the seizure of the land revenue, and the proposal to sell lands by a.uction at a uniform price. Mr Gisborne supported the Bill recommending some alterations in details. Sir R. Douglas opposed the raising land to a uniform price, as it would stop all sales in many districts. Mr Gibbs agreed with Sir R. Douglas, and protested against the price of land being raised. Mr Wood thought the land should be classified, and as this was already done in Southland, it should be excepted from the uniform price. He generally supported the Bill. Mr Hursthouse opposed the raising of the price of land, bub approved of the colonialising of the land fund. He would not leave even the 20 per cent. Mr Murray supported the Government proposals. Mr Beetham thought the colonialising of the land fund only an act of justice to the North. The 20 per cent should also be taken. Mr Johnston supported the Bill generally. He objected to borrow more than two millions, and opposed the raising of the price of land. Mr Stevens opposed the proposals as most unjust to Oanterbxu'y. Taxation extending over the whole colony would have been a fairer way of meeting the difficulty than by robbing Canterbury. Mr Montgomery opposed the Bill. He did not consider the proposals fair, or the arrangement likely to be permanent. He xirged taxation and a discontinuance of subsidies to local bodies. He would not support more than a two million loan. Mr Wason strongly opposed the Bill, and moved the second reading that day six months. Mr Bolleston thought the Government policy treacherous and illusory. Mr Ormond, condemning the general policy of the Government, supported the taking of the land fund, and would, for the session, support the Ministry, because he was sure it would get the colony into a great mess before the next session. He would not support more than a two million loan. He opposed the raising of the price of land. Mr Stout replied to the carping and paltry criticisms by which the night was wasted. He supported the Bill. After a few words from Mr Keid, the amendment was lost by 4-5 to 12, and the Bill read a second time by 11 to 13. The House rose at 1.35 a.m. [PEOM OVS, OWN COSEESPONDENT."] DtTNEDIN, December 4. Mr Denniston denies that his firm is instructed to stop proceeding?, bub admits that proceedings may be stopped.