PARLIAMENT.

Taranaki Daily News, Volume LIII, Issue 123, 2 September 1910, Page 5

PARLIAMENT.

LEGISLATIVE COUNCIL. By Telegraph.—Press Association. Wellington, Last Night. THE CRIMES BILL.' In the Legislative Council this afternoon the Attorney-General moved the third reading of the Crimes Bill. The Hon. J. Rigg complimented the Minister upon the Bill, which he said, was second only in importance to the late Mr. Seddo2»'s Old Age Pensions Act. He regretted, however, that its operation would not be retroactive, and applied to prisoners already under sentence, but admitted that expediency had to be considered. He hoped it would pass through the House in the form sent from the Council. The Hon. Mr. Samuel also hoped the Bill would receive sympathetic treatment from the House. •The Bill was read a third time and passed amidst applause. THE MILK SUPPLY. The debate on Dr. Collins' motion for further legislation in respect to the supply of pure milk was resumed by the Hon. Mr. Paul, who expressed the opinion that the milk supply should be whoHly under the control of the municipal corporation in each of the large cities, and that milk should be supplied direct to the consumer by the corporation.

The debate was adjourned, and the Council rose.

HOUSE OF REPRESENTATIVES. INVITATION FROM SOUTH AFRICA. MR.. FOWLDS TO GO. In the House this afternoon Sir J.G. Ward announced that the Government had received an invitation from the Prime Minister of South Africa asking that the Dominion be represented at the opening of the Union Parliament on November 4. The Government had decided that the Dominion should be represented by the Hon. G. Fowlds, who woufld leave a little after the middle of September and return at the end of December. The occasion was important, and it was highly desirable that the invitation should he accepted.

LOCAL BILLS. The following local bills were passed: Christchurch Tramway District Amendment, Gisborne Harbor Amendment, and the Nelson City Drainage, Loan and Empowering Bill. PUBLIC DEBT EXTINCTION BILL. Sir J. G. Ward, in moving the adoption of the report on the Public Debt Extinction Bill, hoped that, concurrently with the passing of the Bill, the House would agree to an amendment of the Consolidated Stock Act, so that the endowment could be placed upon a greater portion of the existing stock, and that holders of stock would know that sinking funds had been established in connection therewith. In 20 years, he predicted there would be a large amount accumulated for the extinction of the public debt, and there would be an enormous diminution in the amount of money required for public works. This would be a great incentive to the Government of the day to go on accumulating sinking funds for the purposes aimed at by the Bill. I Mr. Massey hoped the time would come when there would be no necessity to borrow for public werks, but he doubted if this would ever he the ease. He described the Bill as a new way to pay old debts, and doubted whether it would be successful. The Bill was attempting too much. This would be realised' very soon. Mr. Newman said the Bill was designed to dazzle the people. He was surprised that there had been no criticism of the scheme from Government supporters. Mr. Wilford held that it was impossible to legislate 20 years ahead, and no actuary could take into consideration the question of re-investments. He believed that sinking funds should he confined to those loans bearing a high rate of interest. , Mr. Allen believed the Bill had introducedl abuses of the principle it was based upon. He accused the Premier of a breach of faith in connection with sinking funds on loans to local bodies and the war loan. The existing law relating thereto provided for the repayment of these loans within a certain period, but this had been repealed by a Bill which utilised the sinking funds for the purpose of providing a general fund for the extinction of the National debt. He invited the Minister, even at this late stage, to exclude sinking funds on loans to local bodies and the war loan from the scojie of the Bill. The Hon. T. MacKenzie replied to Mr. Allen, and said that if the Bill was not all that the latter desired, it was a good attempt to make provision for paying the National debt. It would be necessary to pursue a vigorous public works policy for the opening up of the country. He believed the Bill, with some modifications, would meet the popular approval of the House. The House rose at 5.36. PREMIER'S REPLY TO CRITICS. DEBT EXTINCTION BILL PASSED. In the evening, the debate on the third reading of the Debt Extinction Bill was continued by Messrs. Stallworthy, Luke, Wright, Hanan, Russell, and Hogan. Sir J. G. Ward replied at length. He denied that there had been any breach of faith in connection with the Joans to local bodies, the' whole of which had been raised in the Dominion. Mr. Allen had tried to raise the impression that people outside New Zealand wore interested in these loans. He read from the speeches of Mr. Allen on the Ad vances to Settlers Act predicting al< sorts of catastrrophes as a result of the passing of that measure, and history repeated itself. Now Mr. Allen was taking his old role of prophet in connection with the Bill now before the House. He

denied that the conversion operation in connection with Imperial funds was a seizure of sinking funds. In 75 years, the interest on loans in the ordinary j course would amount to 150 millions,! and the Dominion would still have loans , to pay, but under the Bill by providing, 11 (millions more, the whole of the loans' would be liquidated in that period. In , criticising the previous financial operatons, the Opposition critics were not dis- ' paraging him, but a man who was not j there to defend himself. j ' Mr. Massey, in a personal explanation, denied that he had aspersed a politician who had passed away. When he re- , ferred to the Imperial loans, be referred : to Sir J. G. Ward, who was then Colonial Treasurer in 1804. | Sir. J. G. Ward said that Mr. j R. Ballance had authorised the converI sion in 1802, before he (Sir J. G. Ward) was Treasurer, and he had no personal j responsibility in the matter. 11 A division on the third reading was . carried by 51 to lfi, and the Bill \v:is ■ p'is«pd. Tip ITou«e rose at 11.25.