IRON AND STEEL INDUSTRIES.

Taranaki Daily News, Volume LVII, Issue 135, 31 October 1914, Page 4

IRON AND STEEL INDUSTRIES.

EXCOUBAGING .iTS DEVELOPMHiNT

Wellington, Last Night. In tile House oi Uepresentatives tonight,

Hon. W. Frasov moved the s.-coiid leading of tin. Iron and Steel iudustnes Hill, explaining that the Hill was an aitempt to induce capitaii.su to i»p jjiieaii industries and develop them. fcir Joseph Ward said that great ca>c should bo taken to 'Seo that 110 optHm wan given to an exploiting cuiirpmry. He thought on th 0 whole tliat the Ktait should undertake .this work itself, hut ft it could not do so only a working- corn].any should bo encouraged, and the fatate should have the of re.-eiiiiry, Mr Atmore and Air. Payne stressed the view that the fetai.o should control t'hesa industries.

Tile debate was interrupted by -the dinner adjournment. Resuming the discussion, Mr. Russell urged ilhat the control of these vast mineral deposits should be in tile luimiu of t'ue Covernment, and t he State should undertake tile development of mineral areas, tie. moved an amendment •.« the motion to go into committee, that tllie Slate take in hand the development ot the iron industry. Mr. Glover disagreed with the proviso* speaker and said tiiat development of the iron industry should not lie left to State enterprise. Mr. Ell heartily supported tlh e amendment.

Mr. Webb said tho point was not whether the State could afford to nationalise the industry but whether ii. could afford to allow it to slip out of Its hands.

Mr. Anderson opposed State enterprise in the iron industry. He contended that the State could not compete with private enterprise in this industry. Mr. Young said he was prepared to more in committee that the State should in no circumstances pay a premium for the control of a »Sta!e-su'bsdised induslr.r.

Mr. Isitt warmly proteAed against allowing the iron industry to pass into the hands of private individuals. Mr. Okey referred to .the efforts made by the late Mr E. M. Smith to develop th P irom industry in Taranaki. They should take adrantake of the opportunity to u»e foreign capital. Mr, Atmore said he rntefht- have expected the member lor Taranaki to congratulate the Government upon bringing in the Bill, but it was not. a matter for congratulation for the, ipeoj)lf. Hi Bradney wished to place on reoord figures which would show that tha State could profitably manage enterprises. The natural resources o! the country would never be developed if we waited for State enterprise. The House divided upon the amendment, which was lost by 35 to 22,

Hon. Fraser said the Opposition was aot opposing the bill but the Government that brought it in. It was necessary to get brains and capital from aboard to develop the deposits. The Bill did not favour any company. It was the company that made the most advantageous offer that would get recogaition.

On resuming after the supper adjournment, tho Iron and Steel Industries Bill was taken in committee.