THE FINANCIAL DEBATE.

Manawatu Herald, Volume XXX, Issue 412, 18 July 1908, Page 2

THE FINANCIAL DEBATE.

Speech by Mr John Stevens, M.P. In the House on Thursday night during the debate on the financial statement, Mr J. Stevens (Mauawatu) said that against the complaint that the Budget contained too much extraneous matter, he wished to point out that the quantity ot statistical information tained therein, served the purpose of those returns for which the Leader of the Opposition so often asked- The Opposition emphasised the debt of the Dominion, j;.j and it was true we had a debt of sixty-four and a-half millions, but they should consider also the liquid assets of the couiv try, which could readily be converted into cash. Such were the railways which were worth twenty t - millions sterling, the post and tele- y graph property ten millions, and the securities held by the Advances to Settlers Department, which were worth an enormous sum. There were also dormant assets, like the Crown lauds, which were rapidly becoming liquid assets. He had been accused of liking the freehold well but the Government better. He thought, however, that the amount of freehold settlement under the laud legislation of last year, taken with what would be effected under the new proposal in the Budget, would justify his adhesion to the Government. After a general expression of confidence in the land administration of the Government, Mr Stevens turned to the labour question. He insisted that the Government had done and was doing all that lay in its power to secure satisfactory wages for the workers, subject to the necessity of affording the employers a fair profit. In regard to the demand of farmers for exclusion from the Arbitration Act, he held that such laws should be comprehensive in their scope, but should be modified ' to meet special circumstances. He hoped that legislation would be passed that would inaugurate another 10 or 15 years ot industrial peace. He advocated the fullest consideration for school teachers in the matter of superannuation, and also assistance encouragement to the Maoris in ! their efforts to better their condition. He approved of the increase of the naval subsidy.

Mr Stevens then alluded to the deputations lately waited upon the Minister for Railways and subsequently upon the Premier iu regard to the Foxlon harbour. He hoped the Government would yet decide to give the wharf dues to the Harbour Board, or, failing that, to sell the wharf to the Board, charging per* cent per annum as under the. Loans to Local Bodies Act. Iff this plan were adopted, the .Department would lose nothing, whilst there would be assured to Foxlon a continuance, and no doubt an increase, of its shipping trade.. He felt sure that Ministers would recognise the reasonableness of the suggestions. He also hoped that the Government would give power to the Mauawatu County Council to borrow money for relaying the rails on its private line to Foxtou.