PARLIAMENT

Stratford Evening Post, Volume XXXII, Issue 56, 1 March 1912, Page 5

PARLIAMENT

FEBRUARY 29, 1912. .ly : c:- iizpkz* x: : v The House met at 2.30 p.m. REMEDYING AN ANOMALY. Wellington, February 29. Replying to a question by Mr Bell, Sir Jor.cp.i Ward stated that witn vr-,<r-.rd to hotels removed To i vi e Reamed districts into no-license districts by the Boundaries Commission, and which were likely to lone tlu ir licenses next June, there was ample time after the beginning of the next session to make the necessary provision for safeguarding the interests of those affected. PEACE SOCIETY PROPAGANDA. Sir J. G. Ward read a letter he had received from the National Peace Council, stating that the interview published by the Christchurch News, concerning the interview by a deputation to the Premier, was incorrect, that Mr Cooper did not make the ■statement published, and that the reporter had misconstrued the point at issue.

DETAILS OF LOANS FLOTATION

Sir J. G. Ward laid on the table a paper containing details of the £l,850,000 loan floated in 1909. Mr Allen drew the attention of the House to the fact that the High; Commissioner’s letter covering details was dated September 16, 1910, and had only now been laid before the House. He objected t to 1;] per cent, being paid in commission on loans, when there were other charges to be paid. Fifteen years ago the Premier himself floated- loans without underwriters.

Mr Newman said money was going to be very much dearer in the near future, and would cost 4 per cent. The Premier should float loans at 4 per cent, now rather than at 3-£ per cent, with all attendant charges and commissions. The days when the country could borrow money at 3* per cent, were over. He considered the country would do hotter if loans were floated at par. Sir J. G. Ward pointed out in connection with the criticisms of the cost of loans, that China and Japan had raised hundreds of millions in loans lately, and Japan' had just paid 5.) per cent. He considered some of his critics knew as mpeh about raising loans as ,his foot did. No one raised loan s now without' the assistance of underwriters. llq, went op to say he had,supplied ragje.information and papers rflmn any'oh hist predecessor®. Ho had 'never seed the letter from the High’Cbmmissioner until just lately, seeing the possibility of the very close condition oif the parties, for all such papers to be printed and laid before the House.