PARLIAMENT.

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8890, 9 August 1907, Page 3

PARLIAMENT.

Rouse of Representatives.

Per Press Association

Vi'rxi.ixoToy, August 8. Ti e (kmncil met at 3^30. The Tohuuga hinppressiou Bill was ‘ reivugh all C'•mmirtoo stages. The House adjourned at -T.iiO. Tim House, resumed at 73.0.

The Premier moved tho second reading of the Deserve Fund Secnriti; s Bill, which seeks to place fi;-oi\r,(;o in Loudon to moot any o-isis likely to arise, in colonial i iecoehil affairs, and taircs tho jdace of ;he Imperial guaranteed cloben,eve: . wiiicii matured recently. ffr Masevy ; aid the course proper 1 r.ii;di! !(*• the best, that could is.- adopted, b-ut ;v was a new depariTin'-. !{cfr-rring to tho Imperial tmnrou.teed deb-nture.-!, lie said the iiistory of tlio.-o guaranteed debentures, if it could bo compiled, would form very interesting reading for the jiuidic. He atfrcecl tha-t- tiioy had not the right to ask for any further barking from the Imperial Government. dVepdiouhl go on our own responsibility. "\Vo were undoubtedly

increasing tho debt of tho colony, as in tho payment of interest a loss would gcci-ue. Tie agreed, with tho princii*: of the Bill, and would go further. He was prepared to husband the resources of tho colony in j'eajiim ss. i or lean years. He urged th:;f :il! transact ions in'connection:

with receive funds should ho open to inspection by the public. A bill such as this was practically an experiment. Ho emphasised tho noces- ; iiy f-.r n- strong Public. Accounts ('omiuittoa, to whom tho measure could be submitted. Mr Hurries said it must be counted as ;i loan tn the colony, consequently the colony’s indebtedness has increased.

A fter further debate the House ad. joarned at 11.-■)!). pi. 111.