POLITICAL JOTTINGS

Hokitika Guardian, 12 August 1927, Page 4

POLITICAL JOTTINGS

SING A POPE BASK. Sir Joseph AVard, whose speech in the Bmlgot debate occupied almost an hour and three-quarters, dealt, with a great many subjects. Ho bail received with unanimous assent an extension of time, and went on for almost three-quarters of an hour beyond the a,Matted time. In concluding. he said ho was .satisfied that we in New Zealand should provide our share of the cost of the Singapore Base. Keen if the Motherland wanted to pay, it would ho cowardly for us to let her do so. Any addition to the payment on our part would he to protect our own portion of the Empire. AAe had a most valuable part of the Knipire in Xew Zealand, and we could not afford t-> have it uninsured.

BUTT EH AUCTIONS. The idea that New Zealand butter should he sold in the Dominion to the London men limits in the same way :is wool is’auctioned was hinted at by Sir .loseoh -Will'd in the House. ‘‘Bring out the Toolcy street .merchants here and make them compete for the country's dairy produce. They need it. Del them run the risk of Ic.-cs,’’ said Sir Joseph. Mr Parry (Auckland Central): They'll soon have il all cornered. Sir Joseph Ward : Those men have

as much money available as the New Zealand Government, and you could not have prevented them making money out of our dairy produce even under control. Some of them said they were not going to take our produce. That is all nonsense.

A DOST OPPORTUNITY. •‘A mistake this country made was in not taking over the Bank of New Zealand” said Sir Joseph Ward in the House when discussing the question of the establishment of a State Bank. If that had been done, he said, New Zealand would have had one hank meeting all its requirements. If the Dominion over had a State Bank, he hoped that the Government would not bo directly represented in the board of directors, but that the directorate would lie comprised of men who would conduct the operations of the institution on a strictly financial basis. Sir Joseph eulogised the operations of the f. bninionwealth Bank of Australia, and he went on to say that many people in New Zealand had an erroneous idea as to the functions of a State Bank. There were people who were imbued with the idea that a State Bank would issue paper in its own name and help the small man throughout the country. No hank. Stale or ot lieu wise, could exist on such a basis. >ir Joseph told the House that when the country saved the Bank of New Zealand it was impossible in find a body of men on. either side of the House who would have supported the acquisition of the hank by the State. He added that he was quite satisfied that New Zealand should have agricultural hanks, hut he would defer any comments on this phase of the hanking situation until he learned the Govermcut’s intention in the matter.