CURRENT TOPICS.

Taranaki Daily News, Volume LVI, Issue 6, 7 June 1913, Page 4

CURRENT TOPICS.

THE UPPER HOUSE. A member of Parliament, in the course of a letter discussing the constitution of the Upper House, says:—"The Hon. Oliver Samuel is deserving of the greateredit for the work he did in connection with the Guardian Bill referred to in the article you published recently; lie also did good work in connection with the Coal Mines Bill that was passed by the House of Representatives and rejected by the Council, although the newspapers did not take the slightest notice of it. The Commonwealth elections are showing the madness of having two elective Houses. I am satisfied that sane public opinion is not going to favour two elective Houses in this Dominion. The farmers are beginning to realise what such a mad scheme it means. You cannot find one constitutional writer who favours it. The authorities are Overwhelmingly against it. A chamber independent of outside control, independent of the pressure of constitutents, is an absolute necessity for the proper government of the Dominion."

GOOD ADVICE. In the opinion of Mr. C. W. Govett, as expressed at the annual meeting of the New Plymouth' Chamber of Commerce last night, the greatest indication of the prosperity of the Dominion was to be found in the prompt and regular payment of interest. In his experience—and he thought business men who were in a position to know, would concur with him— he had never known a year in which payments had been made so punctually and so regularly. It was a grand feature of the present year. It was, however, a peculiar position that, while interest was coming in so punctually'and so well, there was an extraordinary deficiency of capital, and he would impress upon all those who had capital invested, not to call in that capital. unless they were absolutely, forced, to do so. Inhere had been, Mr. Govett continued, one or two cases where public companies liad been calling in money, and really, with the idea, he understood, of retiring from New Zealand, but it had always been found in times like this, that when .capital was withdrawn from the district, a great deal of unnecessary distress was caused. "I take this opportunity," the speaker concluded, "of impressing upon those who have money of their own for investment, or who have the power of advising others, that when loans mature, there is reasonable ground to expect a certain increase in the rate of interest, and it would be a very regrettable thing to call in capital. A very great deal of capital could be done with by the community." Mr. Govett's remarks were received with applause by the members- 1 present.