PARLIAMENTARY.

Hawke's Bay Times, Issue 1605, 25 August 1874, Page 334

PARLIAMENTARY.

(PROM OUE OWN CO-RESPONDENT.) (BY ELE.CTRIC TELEGRAPH.) • Wellington, 22nd August. In the Legislative Council to-day Mr Waterhouse opposed tlie second reading of the Loan Bill in a powerful speech. He showed that the indebtedness of the Colony was eighteen-and-a-half millions sterling; he contrasted our. revenues with those of the Australian Colonies, and drew deductions most unfavorable to New Zealand. He said those who attributed the prevailing prosperity to the public works policy were under an illusion, and demonstrated that it was mainly owing to the increased price of wool, which had affected other Colonies in a still greater degree. That our present revenue was large he admitted ; but he maintained that if honestly brought face to face with our outlay it would be found insufficient to meet current expenditure. While willing to afford the Government every necessary help to carry out the policy they had inaugurated, the Council should exercise such a controlling power as would prevent them launching into liabilities not contemplated when the scheme was sanctioned. He was willing to grant three millions to railways because that amount was' needed to carry out the scheme. The vote to the deep-sinking company was not necessary, and was a huge mistake on the part of the Government. All the other . votes should have been borne out of levenue. With regard to immigration, he said tho number on their way out were more than sufficient to meet the requirements of tho Colony, the labor market being already overstocked. He urged the Council to exercise caution and prudence, for he was satisfied that the salvation of the country was in the hands of the members. It depends upon them whether the Colony shonld in future keep within the bounds of prudence, or continue a course of reckless borrowing, involving themselves in expenditure and liabilities disastrous not only to those by whom it was authorized, but the Colony at large. Mr Holmes also attributed present prosperity to the rise in wool. He prognosticated, from the rash spirit of speculation which had overtaken the Colony, that financial ruin must follow. The proposal to issue all the loan by short-dated debentures was merely gambling. Mr Grace made an eloquent speech in favor of the Bill; Messrs Campbell, Robinson, Chamberlain, and Bonar also spoke in its support; and Messrs Johnson, Kenny, and Mantell against it. Mr Chamberlain caused much amusement by saying that he was prepared to support borrowing fifty millions if necessary. Dr Pollen, replying, characterized Mr Waterhouse as "a genuiue croaker." A meeting of the Government supporters was held to-day, at Mr Vogel's houseall. The supporters of the Government were present. Mr A r ogcl made a statement why he brought the members together, placing three issues before them. After consultation, the members present unanimously agreed to support the Government in the abolition of the Provinces of the North Island, substituting in lieu thereof a system of local expenditure of local revenues. The question was discussed whether there was any necessity for a special session, and it considered that there was not. It was decided to give the country full time to consider the constitutional change, and to pronounce a verdict on the alterations required in our complicated system of Government. Mr Vogel next session will bring in a Bill which every member present promised to support. Mr Stafford will follow Fitzherbert on Monday, Mr Vogel following Stafford. It is not intended that any other supporter of the Government should speak. There are forty-four members on the Government side who will vote against Fitzherbert, and it is rumored that the Opposition will " cave." They have a meeting on Monday. The Ward-Chapman affair is found to be ramified in so many directions; such scandalous revelations have been made; and there has been such gross and manifest perjury; that none can imagine who may yet be involved. Hence the expediency of appointing a Royal Commission to investigate the whole affair, which will probably, be done. On the subject of the Legislative Council, the Post this evening writes that it is becoming public, and must either be made elective or done away with altogether. On questions affecting property, its legislation is mischievous, as may be expected from a club of largo landholders, retired military men, and noveau riche, 24th August. A caucus of Provincialists was held this morning in the Provincial Government Buildings, Wellington. All the members who voted against Mr Vogel's resolutions were present, as well as O'Rorke, White, and others locked out on the previous occasion. It was unanimously resolved to support Fitzherbert. The greatest enthusiasm prevailed. The Governor's approaching departure causes little regret. An agitation is on foot to get him up a farewell subscription dinner. Mr Vogel explained tho course the Government intended to adopt in reference to tho Report of the honorarium commitee. The members of tho Council were indignant at the increase not applying to them, and the Government thought the matter should be settled by statute. They could not do this during the present session, but would bring clown an appropriation to apply the increase of honorarium to all members of both Houses residing above three miles from the seat of Government, those within that distance to remain as at present, Next session they would bring in a bill to give effect to this proposition,

Mr Rolleston strongly opposed deal j ing with the question, except upon the broad questions of principle. He is still (8 p.m.), speaking on the question on the formal proposal for the adjournment of the House.