PARLIAMENT

Taranaki Daily News, Volume LIV, Issue 208, 1 March 1912, Page 5

PARLIAMENT

THURSDAY, FEBRUARY 29. HOUSE OF REPRESENTATIVES REMEDYING AN ANOMALY. By Telegraph—Press Association. Wellington, Last Night. The House met at 2.30. Replying to a question by Mr. Bell, Sir Joseph Ward stated that with regard to hotels removed from ,the licensed districts into no-license district* by the Boundaries Commission, and which were likely to lose their licenses next June, there was ample time after the beginning of the next session to make the necessary provision -for safeguarding the interest* 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 Pre-' ' mier, 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 Commis-, sioner's letter covering details was dated September 16, 1910, and had only now been laid before the House. He objected 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, 1 • 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 wh?n the country could borrow money at 3% per cent, were over. He considered the country would do better 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 1 hundreds of millions in loans lately, and Japan had just paid 5V 2 per cent. He considered some of his critics knew as much about raising loans as his foot, did. No one raised loans now without' i the assistance of underwriters./ He went on .to say he had supplied more information and papers than any of his predecessors. He had never seen the letter from the High, Commissioner until just lately, seeing the possibility of the very close conditon of the parties, for. all such, papers to be printed and laid before the House.