PARLIAMENTARY NEWS.

Opunake Times, Volume I, Issue 25, 25 September 1894, Page 3

PARLIAMENTARY NEWS.

HOUSE of REPRESENTATIVES.

Wellington, September 18. QUESTIONS. "

In reply to questions, it was seated that the Government were not in a position to inform the House what course they would pursue in regard to the hank amalgamation. That money would le spent better in making roads ai d bridges for country settlers than by devoting it to a grand national exhibition of arts, manufactures, and industries, and it would be a mistake for the Government to take the initiative in holding such an exhibition. That it was not desirable at present to offer a bonus on on the export of clover seed. That it was not desirable, owing to the prevalence of phylloxera in Australia, to remove the prohibition on the importation of grapes into the colony. That the Government were quite prepared to have reciprocal trade relations with the Australian colonies, but the proposal was not favourably received by these colonies, notably New South Wales. That the Government were of opinion that the whole audit system in the colony was unsatisfactory, and should be altered, but the Government would go into the matter during the recess, and hoped to submit a comprehensive scheme to the

House on the subject next session. That as soon as the Cabinet saw its way to grant a sum of money towards an inebriates’ home, the work would be proceeded with. CHEAP MONEY SCHEME.

Mr Bell severely criticised the Bill, and expressed the opinion that no business in the world depended so much on special individual skill as

money-lending. - Mr G..W. Russell spoke strongly in support of the Bill, which, he said, would make or break the Liberal Party in New Zealand. He thought the proposal to lend money for 36$ years was too long, and mortgages should be renewed more frequently. Mr Maslin said that the scheme would undoubtedly create a land boom, which might prove very undesirable. He should support the •econd reading of the Bill to affirm the principle. Mr Saunders did not so much object to the Bill as to its principles, and said that the Government came into office with the avowed intention of carrying out the principle of selfreliance enunciated by Mr Ballance. He could not therefore support this Bill without going back to his constituents. Mr Wi Pere urged that the measure should apply to natives. He should like to see it get into committee, where it could be amended. Messrs O’Eegan, Massey, Thompson, and Buchanan opposed the Bill, and Messrs Duncan, W. Hutchison, Pirani, Graham, R. McKenzie, Camcross, Hall-Jones, Parata, and Harris supported it. After Mr Ward had replied, the sejond reading was agreed to on the voices.

Wellington, September 19. MINERS STARVING.

Mr Roderick McKenzie gave notice of a question asking whether the Government is aware that 220 miners on the fVest Coast had been dismissed from employment within the last fortnight, and that 400 people are on the . verge of starvation. The Premier informed the Son. gentleman that it was not necessary te burden the Order Paper with his The position had become §o serious that the Government had , taken the only alternative that was in in its power. The coal companies had not acted upon the report of the Railway Committee, and the men being out of employment and starving, the Government had given instructions to immediately determine the leases of the whole mines of the two companies—the Cardiff Coal Company and Mokihinui. GOVERNMSNT RAILWAYS BILL.

The Government Railways Bill was reported from committee, read a third time, and passed without debate. BATING BILL.

The Bating Bill was further considered in Committee. Clause 22 was amended so that ten days, instead of seven days, should be allowed in which to make objection to valuations. RATING BILL.

In Committee on the Rating Bill, clause—rates overdue for two years cannot be recovered—caused considerable discussion.

Several members defended the danse, whilst others opposed it on the ground that local bodies should not be put on a different footing from private persons, who could recover debts due for six years. The clause passed by 41 to 17. The remaining clauses passed unaltered, and the Bill was reported without material amendment, read a third time, and passed without debate. CONSOLS BILL.

The Hon J. G. Ward moved the second reading of the New Zealand Consols Bill, to afford facilities for the investment of savings by the creation of Ndto Zealand inscribed stock. He said the Bill was necessary, in order to enable people to deposit larger sums of money than could be placed in postal savings banks, which did not pay interest on larger sums than £SOO. Building societies and other societies who could not now deposit more than £SOO «in postal savings banks would be able to do so under this Bill, and receive four per cent interest. In the British dominion the system of consols had existed for many years with great success. One purpose for which the consols money would be used would be for paying off, from time to time, Treasury bills. The maximum amount of the consols would be one million, and the rate of interest was not to exceed four per cent. A safeguard had been introduced into the Bill to prevent syndicates outside the colony from investing in these consols, and if

the Bill were not properly safeguarded in this respect he should be willing to amend it in Committee to meet such an objection. When he told them that the amount of consols in England reached 585 millions he thought it was sufficient to show that that form of investment was considered in that great country a sound one. Sir Robert Stout said nothing pained him more than to see the easy, jaunty way in which proposals to borrow millions of money had been received by the House. If all the Financial Bills of the Government were carried, the colony would be pledged to millions lor this year, and 2Jmillions for next year, and so the amount would go on increasing. They were simply going, by this Bill, to borrow a million of money and convert the floating debt of the colony into a permanent debt for 40 years. By encouraging people to take up money by these consols it would limit the business of banks and financial institutions, cripple the business of every manufacturer and trader in the country, and cause great injury to all mercantile business. A grave responsibility rested on the House at present, and they were on the eve of a great financial crisis, such as he had never known for years past. From every point of view the Bill would injure the colony, and it would not improve a hundred of our people. Captain Russell said it was amusing to hear Mr Seddon talk about Sir Robert Stout being an apologist for syndicates and financial institutions when Mr Seddon was the leader of the Government which had'done more to bolster up the banking institutions than any other Government that ever sat on the Treasury benches. He moved an amendment, that it is not desirable by the New Zealand Consols Bill to still further extend the policy of borrowing in direct contravention to the will of the people as declared at the last general election. Mr Geo. Hutchison seconded the amendment, and strongly condemmed the Consols Bill.

Mr Reeves said Captain Russell’s amendment was a direct attack on the Government policy, and this time had come from its proper quarter. He saw no cause at all for thinking that to invest money in consols would weaken the banks.

Mr G. W. Russell supported the Bill and Messrs Buchanan, Bell, and Crowther opposed it. On division the amendment was negatived by 38 to IG.