POLITICAL POINTS

Taranaki Daily News, Volume LII, Issue 228, 1 November 1909, Page 4

POLITICAL POINTS

The following return ill connection with the 13<mk of New Zealand, called f"!i by ill. 11. G. Eli* M.P., was laid on the table of the House last week: —Price paid by the Government for 75,000 shares in tile Bank of New Zealand, £500,000. received by the Governments dividends:—Year ended Ist March, 1905, 5 per cent., £25,000; 1906, 5 per cent., £25,000: IUU7. V/z per cent., £37,500: 1008, V/. per cent., £37,500; 1000, 8% pfT cent., £43,750; total, £108,750 Amount paid annually by way of interest on the purchase-money of the shares, £18,113. f lhe challenge issued to the member for Egmont in the House On Wednesday evening wis a very prompt Qne anj should have been responded to. Mr. Dive, in the course of a speech on the Loan Bill, had asked how it happened that after a limitation had been placed on the maximum amount of a loan by the Advances to Settlers Department, a "strong supporter" of the Government had been able to obtain an advance of a much greater sum. Sir Joseph Ward a*ked Mr. Dive for particulars of this transaction. The only explanation that gentleman has had to offer is contained in a shuffling announcement that lie will •'consult his more experienced colleagues." What his friends are experienced in we do not "know, "but if he intends to consult those wlio have graduated at the soiled-linen waslitub he will not have to travel very far for counsel on one side of the House. There is no other meaning to attach to Mr. Dive's question lhan that something disgraceful had token place. The suggestion he obviously intended to convey was til'-; That beeni.se an applicant for an advance wac a Government supporter n rule was broken, preference was shown to him, and other applicants were comspondmgly prejudiced. If anything of this kind took place it would, of course, be a very great scandal and would qui'c justify Parliament in taking drastic remedial steps. Mr. Dive had a double duty to per Form. The first was to he «ure of his facts. The next was to state them. It is no part of a representa-, live's function to circulate canards; still less is he sent to Parliament for th»* purpose of retailing tittle tiltllc. All that Mr. Dive, 'has accomplished so far is to show himself to be a very biassed politician of narrow visage and parochial .railings. By this he has only confirmed what his pre-election speeches indicated, llii explanation of the transaction in I which the keen nose of the member for Egmont detected "corruption" is simple. I he loan had been authorised prior to Gie restriction ordinance being announced. and in issuing it the Department merely carried out an obligation in the ordinary business way. Mr. Dive's "d eeovery" would have been really useful for circulation during an election campaign, in which misrepresentations usually get a clear twenty-four hours' start, but he was foolish to exploit it in a place where it could be refuted in twon'ty-four minutes.—Wellington Times.