PARLIAMENT.

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8877, 31 July 1907, Page 3

PARLIAMENT.

House of Representatives

■ Press Association. Wellington, July 30. The House met at 3.80 p.m. In moving the second rending of the Million Loan Bill, the Premier added that the Government -would have a total of 413,115.5C0 available for public works expenditure, as against £3,040,319 last year. It was important that tho House should authorise the raising of tho present loan. Last year’s loan realised a profit of £411(1. Tho amount raised last rear in the colony was £059, SCO, and in Australia £34,050, the total raised being £1,000,800. Referring to the present loan he said lie had received an ofler of ‘ho whole amount at a prom him of 3 per cent, but had refused it, as he had reason to know they could obtain half u million outside tiie colour at 103 by paying a brokerage of ono-lialf per cent, Which he thought very satisfactory.

"Mr James Allen saifl tlio information as to how the loan was raised Inst vonr was only just made known. Ho desired to know if it was not time to cease borrowing money at -4 per cent. Ho contended it could be borrowed at less outside the colony, and they should be able to raise the loan at If Government bad borrowed outside the colony at S}.< he would have boon satisfied. The colony borrowed from its own department, the post office, at S}.< and 8. ‘He considered the money of the post office should be used for land for settlement, mid not for public works purposes. Ho was perfectly in agreement with the policy of borrowing to assist local bodies, and it was necessary to borrow money for settlement purposes, yet Government seemed afraid to borrow money for laud for .settlement purposes. He contended the money should ho raised in the cheapest possible market, aud lie hoped the Premier would not bo tied down to this 4 per cent. The colony was progressing, aud he hoped next year to hear that the colony had raised its loan at 3 }4, even if they had to go outside. He desired to know if repairs to bridges, railway, aud trucks, replacing rails, etc., were charged to revenue. There was no depreciation account in the Railway Department and ho contended the state of affairs should fj3 remedied. Ho mai ntaiued that £200,000 on the Loan Bill for addition to rolling stock should be charged to revenue, so that they oonld know what the exact position Was. It wan rumoured that there Was to ha £400,000 voted for the Jforrh Island Main Trunk line this year. He agreed that that railway should bo pushed on. Further, it was also rumoured that £500.000 would be spent on the Arthur tunned, and ho desired to know if this amount was included in the present Loan Bill. Ho considered the colony should have waited a few years before committing itself to tiiis expenditure. Referring to the £25,C00 on the Bill for goldfields development, ho remarked that a similar amount was on last year’s bill but what did lie find? Wliou the estimates came out 1m found 'hat the amount was £55,000. He Jfptcd to know where all tins pibuey wont. The growth of eypenhviiro oa contingent defence out or imtjlic works money was enormous $ recent years.' He urged that not penny of loan money should bo Won that object-. Ho had hoped PJt this reform would have, temgst others, been taken in hand wGovernment. In congratulating on starting a sinking lie urged that a sinking fund should be establshed for this loan. If this oro done the colony’s credit

: ft'OQld 1)0 much sounder, _ and the colony would he able to raise loans St-a much cheaper rate of interest. The Hon. McGowan quoted figures lowing that during his period of office they had spout more on prospecting and on the schools of mines goldfields development than anriug the previous nine years. Mr Herries objected to the Government iutesting the funds of the Post Office in Government debentures. Mr Laurcnson expressed surprise jftat auyoiie should object to investr? Post Office funds in Government aepentnros.' It was a good tiling for ■“cppsitors. who Ijavo the advantage of foeir savings being invested in good 'o House resumed at 73.0.. W Hoss urged that the Government. ( d a “l have ro come to the relief of - Real bodies in the back blocks, rates were very high, and unless ’? e Government came to their uswith public works the local f«hes would be strained to the ' point.' Mr Hogg said tjio Bill was a •fnsnre which should receive the fjheral support of tho House. In £f*v?' Vll district he estimated that iffn-i? ' Tas rei taired for necessary and if all members were as H,i/ es t in their requirements lie couikS'?l tho task of tho Minister of ■j, j, llc Works would bo-an easy one, ■nf 'would only mean the allotment ■L *400,000 amongst • 80 members. Jkged on tho Minister of Eall■kjß ‘the urgent necessity of revisHlai i ra ßway tariff. He urged , Od S witli the development of ®Ws° r se Mlomont the rough country roaded so as to allow sawHkll.v to. remove timber and sub■g*. place settlers on the land.

!Mr Barber supported the borrowing policy for the colony, and advocated tho completion of tho South Alain Trunk Railway and \ tho shortening of the sea passage across tho Straits, so as to enable connection with the North Island Main Trunk Lino, and thus facilitate the journey from Auckland to tho extremity of the South Island. Mr T. McKenzie advocated tho adoption of a number of narrow guago railways as feeders for tho main lines. Mr Thomson also advocated tho construction of narrow' guago railways, and advocated tho pushing ou of tho smaller lines ou the completion of the North Island Main Trunk line. Mr Mauder advocated construction of railways by small contracts, which was more satisfactory than day labour. He severely condemned ; the construction of the Midland Railway, which, ho asserted, was only taken in hand for the purpose of giving the city of Christchurch ; cheaper coal. Ho characterised the : work as a waste of money, and had hoped the Government would have had sufficient backbone to refuse to proceed with the Arthur’s Pass Tunnel. Mr McLachlau offered his advice to the Premier in two words — ‘ ‘ Don ’ t borrow ! ”

Mr Major advocated the construction of the main trunk lines, after which an inquiry should ho made 'as to which of the smaller lines should bo proceeded with.