The Prime Minister

Taranaki Daily News, Volume LVI, Issue 192, 12 February 1914, Page 5

The Prime Minister

SPEECH AT TE AROIIA. FINANCIAL AIATTER.S. Uy Telcgraph-PrcMi Association. Tc Aroha, Yesterday. j The Pfime Minister, in the course of ' a political address 10-night, reviewed " the legislation of the past session. Ue xawl that nearly 20,000 Crown tonanU ' now had the opportunity of converting the leasehold to freehold. During thu year ended December 31 last, the Ui* \ veniment had placed 2143 settlers on the land, who had taken up 677,010 acres Referring to loan matters., Mr. Ma«- ' ' Hey .said that the four and a-half millions raised about two years ago cost " ; £144,049, and to raise ihe money tojwv "' it off would cost £235,000. a totalof / £379,049. ,'' '.

He announced the Government's in- ' > tention to shortly raise the limits for ' advances to settler* from £750 to £1000; to workers from £4OO to £450 (maxi i liuißi allowed by law at present); to '*' local authorities from £2OOO to £SOOO { for any particular work; and the ad- \ vaiucs within townships (excluding thi i populous centres) to be made up to I £2,100. - J j, Mr. Massey spoke in support of the' .. -J <!oTcrnment's defence policy a*d its at- * >.f titnde in tho recent strike. ', s The Hon. W. 11. Merries and Dr. Po- >\\ mare also- spoke, the reception accorded j to all being most cordial. THE NAVY. • " i; Auckland, Yesterday. )"j Speaking on naval defence at*Tc *4< Aroha, Mr. Massey said that the Go- *' 1 vernment had asked the Home author!- 1 ties t» eomply with the l\>o9 agreement , i ji'.id had said that if this was dope an'l /.4 'f within eighteen months they woull ' J give us two Rristol cruisers New Zea- Vi land would pay another £.50,000 a yoaT. ;J So far there had been no reply. Th« ' Jf matter could not be allowed to rest, aad ! * jf if something was not done, it would be -"jSI tiie duty of the Government to ask the . '/M authority of Parliament to build at lji lea«t one cruiser in a British shipyard, vi lie believed the Pacific would be the *"H storm centre in the future and that the , a British people would have to fight to" '/A their supremacy in these waters. 'j J NEW ZEALAND LUCKY. -J Auckland, Yesterday. 'JI Mr. Massey said that nearly 2000 „"'j£j Crown tenants who were only leasehold* jl ers previously had now the opportunity of converting their land into freehold, The Government also had given theil "ILIs

the opportunity of paying for the Un.l /f* by instalments. More was to be done '» abjjjj this dircction ( next session. Referring M 33 to the financial difficulties the Govern- -WaS ment had to face, he asked what couM §®m he thought of financiers who had allow- * 4aj| ed £8,000,000 of loan money to fall doe f|9 in one year. The faet that the 4>/ a mil- Jf|9 lion loan, recently raised in London, had. , r m been subscribed Ave times over in *B<*-.£«B hour and a half spoke volumes for the f Sffli esteem in which the country is held. Tha Government had reason to oongratu* ipS late itself, for unless the English inve*-". $M tor thought well of the people in con-. , ,ff f[ trol in this country he would not len4- -Jjj.Jjj his'money so freely. It had been said gJ] that the Government had done nothing T\£ for the settler and worker, but during ■>'**,'" its eighteen months in office the Govern- , £V* ment had lent to settlers, workers andf Aip local bodies f2,472,715. -. «Sg* SOME OBVIOUS MISTAKES. CORRECTED BY MR ALLEN. - * ,J«

Wellington, Last Night. ~»" As several obvious errors occur in th* *s- - as they appear in the _ tele,- . y graphed report of the Prime Minister'* S\ speech at Te Aroha, a Post represent*- \<. tive asked the Minister of Finance ft '/''''* he would verify the amounts quoted by , * Mr. Masflcy. Referring to the par*,'_'J; graph dealing with short-dated tures, the Hon. Mr. Allen explained flmt-«i, that the special difficulty was tb»t ,' - the eight millions was in the hands the speculator and not in the hands W.,>';ijj the investor, and the speculator would/ |J*H not renew it, "so we have to raise WW - ..»| loans to pay off this eight millions wl& -7.3 all the consequent costs of Lg jng, brokerage charges, stamp etc., and every time a short-dated '•"HiSM is renewed, this process has to tyjlffl gone over again, and that is where tlHS,£sjffl cost comes in. As to the four-and-JiSMj half million loan, those figures Tight. It costs, in the first instMM»|||§? £144,000, but it was a two years' l*jaras| and, should it become due after run<ili§||jwl the course of two years, the «ost *<g|ijy| curred again, and this is the actual result, that it will cost PHWffISEj ably another £230,000 to £240 ' 0 put it in the same position as the that I raised in London 13 months The total cost, therefore, of this Wtifgm and-a-half millions loan, to put It &&■ the same position as the loan toat'Wll&jflS floated a year ago, would be approxfr *BB mately' ,CiIRO,OOO, whereas the 4*tjsjH charges ana expenses of the three ■""*'"*j| lion loan which runs for 30 or 60 y«»H''M were £15G,000. If the four-and-a-hstf ijS millions had hern three millions, extra cost of raising it as a short-dftttdjjK. loan would be approximately filOMMara "There are some obvious misprina|gfgj9| Hie paragraph dealing with more advances. The report says that *W|p| fiqvernment proposes to incrcWH) vanees to workers from £4OO to £SQWIK that is clearly a misprint. The mum is £450 by law, and wfi ~P to go up to the maximum of *Wwffl| Then there is another very obTWJ||BE misprint in this paragraph in In advances to local authorities. . do not propose to increase (he araOUNJIpH from £2OO to .ESOO. but from *SWof>*fS YOU SHOULD BE in rejecting the worthless and froqUollt!(fflH injurious counterfeits which arc *9Bn|j9 times pushed for the sake of gain as "mst as aood" «s the BAXDER & SONS' VOLATILE RUQNfII LYPTI EXTRACT. Be not SANDER'S EXTRACT is recognised Wsm the. highest medical authorities as patron sessing unique stimulating, healing »SA dj antiseptic powers. The preparatio* of jg| SANDER'S EXTRACT from the pure WjHq leeted leaves, and the refinement by spa .■ a cial processes, give it curative pcenliarlv its own. Therefore, bo iff. I misled. ' Demand and insist upon tk4=d OENUIXE SANDER EXTRACT, WnM you will derive the benefit that sands have reaped from it before Whe»>|H ill you should not depress yourself ropjtsuj by the common, bulky and naomuUjja eucalyptus oils and bo called Mtf Mt«jlgffl| What you want is quality and bility, in small dose, and this you t|jH in SANDER'S E*miCT. vSH