PARLIAMENTARY JOTTINGS

Hokitika Guardian, 21 October 1921, Page 4

PARLIAMENTARY JOTTINGS

SI'KCIAI. TO tUAItIUAN. LtfC’AL BODIES FINANCK. WKId.INGTON. October 21. The Local Bodies Finance Rill contains provisions designed to keep expenditure within a reasonable distance of the revenue. The overdraft owing to the bank must not exceed two thirds of the total revenue of the hotly for the preceding year. No loci I body is permitted to owe to a bank id the ,-ml uf the littam ial year, a sum greater than the outstanding revenue for that year which remains illteaT.let ted. Regarding the liabilities of local bodies at March -Ust.. 1(I2|, each is required to tender to the Minister ol Internal Allairs l.elote the end of .limitary next an account of what it owes to the Rank and to lenders on deposit. together with the ..m----niint of uncollected revenue at that

date. The dillVreiteo between the two stilus, termed the antecedent liability, is to he liquidated in a method provided by the Bill. The body may either borrow the money without a poll of the ratepayers for that purpose, or may elect to pay olf the sum by seven annual instalments out of revenue, beginning with tin- next year. Ihe body nutv also borrow enough to settle part of the debt and pay off the balance by instillments. In the t ase ol payment by instalments, a special rate m;tv be struck t< raise the neeessaty money. The bill further require* local bodies to meet the ordinary ohligafiotts of each veal out nf revenue and where t-ontra, ts exist .-xt Tilling over a term of years, must make proper provision each yea, lor the amount payable tinder those contracts.

FRORUC'E I'RK’KS. I’riees of produce ate low. but I do mil believe that the prices are going to continue, said the I’rinie Minister in the House ol Rons, ’’They cannot continue because they are below the cost of production.” Mr l.vsnar (Gisborne) remarked that me.n,t prices would go lower unless somewhat was done. Mr M assey You think that we should establish shops. Mr l.vsnar--Rut the trusts out (irst.

M, .Massey s aid lie was not in favour of trusts. He had opposed them all along. A difference lutd arisen recently between the New Zealand Government anil Armour anti Coy in regard to tin' export of meat. Government hail offered Armour and Coy., an oppnt tunity to ship their meat to any market in America, the continent or anywhere else, mi the understiitding that they would not. purchase any niuro meat without being in possession of an export license. That oiler had heen turned down. The Coy was to undertake not to operate here without tinconsent, of the Now Zbaland Government.

UK OPTIMISTIC. •WKI.f.INCTON. <M. 21 h The imprest Supply Hill rave an opIk>rlunity for a general debate which occupied most ol' to-day's sitting. Members ranged oil many topics. Mr .Massey predicted again tliat (In' wool position would improve, and deprecated pessimism. “We are going through a period of financial stringency. Nobody attempts to deny that," said tin' Prime Minister, ’'hut I have heen annoyed liv pessimistic statements that have heen made lately ill various paits ot' the Dominion. During the past eioht.cn no.ntlis I have done mv best here and ell t'e other side ol Ihe world to keep no Ihe credit ol the count i \ and I have not heen unsuccessful. If we are going lo heeome pessimistic and say that the I ott-m is dropping out of the country, and that we are till union; hankrupt.

then inevitably we will increase our own troubles. We can admit that we aie up against dilliciill ies, hut let us face our (lillieulties like reasonable people, and we will eel over them all the more quickly.’’ Mr .Massey said, ohservat ion had eon- . inced him that New Zealand ought •nit to rely exclusively oil the l.ondoii .narkel. importers would he wise to send some of the meat to Hiistol. Liverpool. Manchester and even (Jlasonw. These great centres were asking lor New Zealand moat and could uhsoi hh large (|ilantities.