PARLIAMENT. HOUSE OF REPRESENTATIVES

Taranaki Daily News, 15 August 1917, Page 5

PARLIAMENT.

HOUSE OF REPRESENTATIVES

WAR ILOAN PfiOSPECTUE^ By Telegraph.— Press Associ&tioais ' , Wellington, Last Night. '• •Sir Joseph Ward laid on the table oft the House the prospectus for the -wan loan. Ho explained the new arrange--mentfl made in connection with the post olfice, which would enable anyone of slender means to participate in the loan. hi addition to the connected inve&tanerrfc adopted in connection with the last loan,. investments might be taken up to £SOO. at live per cent., for periods of five or ten years, the interest being payaWai six monthly. This latter form of vestment would not be free from in-come-tax, because, if so, many peopJa who ought to take up large amounts at ii would rush the post office, getting the benefit of the higher rate, ■while those who were only able to take up to £SOO would not he subject to incometax in any case. He was also arranging that those who took up connected investments in the last loan would be enabled to change to the new forra.in ftro or ten years if they so desire. ' Replying to Br. Newman, Sir Joseph, Ward said the banks had agreed to lend money to clients to enable them to take up loan debentures, at a rate not exceeding 5i per cent. Tjife first part of the, loan, he thought, would last till Febru-v ary. in that case the second part woaki probably be raised about Maien.

NEW BILLS. ■■;; ■ Tho Hi vers 'Boards Act Amendment Bill (Hon. G. W. Rusgell) and the New •Zealand Inscribed Stock Bill (Sir Joseph Ward) were introduced by Governor's j message and. read a first time.

NEW CUSTOMS DUTIES. _ Sir Joseph Ward introduced by resolution an amendment to the Cuftoms Act, imposing a further preferential surtax on duties on goods not being the produce or manufacture of the British Dominions. He explained that,the alterations would remove certain anomalies- in connection with the taxation of silks, which were pointed cut during the debate on the Budget.' The new duties would also bring in additional revenue, as well as give further preference to Britain. If the House agreed to the new scale of duties, the Government would see whether they may raise pension* by Ave shillings a week. The new duties on tobaoco were intended to protect the cigar-making industry in the Dominion.

Mr. Wilkinson said the list might have ,been considerably extended with, benefit 1 to Britain. -

Mr. Boole considered that the importa< tion of certain articles of luxury should, be prohibited altogether. Messrs Payne and Webb objected tf> any increase in customs duties.

The resolutions were agreed to. PROTECTING CONSUMERS OF TEA, Sir Joseph Ward introduced an amendment to the Trade and Commerce Act t< prevent holders of tea prior to the imposition of the new duty from raising the price to consumers. If any sue) increase had taken place, die consunKl. would be entitled to a refund. The Bill was treated as a matter o| urgency and passed all stages. Hon. (i. W. Russell tabled the re-pod of the Marine Department, the discus* sion lasting till 5.W.

THE BUDGET DEBATE. Mr. Wilkinson resumed the debate 08, the Budget. Mr. Hornsby .said the first ciple laid down by 'both leaders -when the National Cabinet took office -was the reduction of the cost of living, but*no* reduction had taken place. We had an abundance of food in the Dominion, but tlie people could not get at it except by the grace of profiteers,, end it was time lihe people realised the fact. When the Minister of Agriculture went to Australia to buy wheat, there Were men ia the Dominion holding on to wheat, wHfo the result that both bread and fiofflQ were dearer .than they had any right to be, and he wanted to know, what the Board of Trade was doing about it Butter was selling at Is 9d per lb, but he knew of a large quantity offirst-dasai' butter for sale at is per lbMr. iMassej interjected: "It that isasa the Government will take, the lot>atiiha4 price. Mr. Hornsby declared he was.-prepare* to. bring the bargain oil', He commented! on tlio action of the woollen companies in raising tho price of yarn and paying big dividends, but when operatives asked for an increase of wages they were de-i Bounced'as disloyal. He asked «hy the powers of the Commercial Treats Acfl Imd not been invoked to cope with the; Meat, Trust.

Mr. Witty said that if there was a! fault in the Minister's .proposals it lajl in the fact that the land tax was noi sufficiently drastic on the large estates, while the land speculator got off prac« . tienlly free, He suggested that the rei reaming nuafc million acres of Crown lands be set asid<> as an endowment fo» widows and orphans, and he would life to see a million acres of Native land,,. : purchased and set, aside as an widow-' ■' ment for Maori soldiers, y/ho bad proved as brave as any 'pakeha on the field o£ \ battle. He iavorcd an increase in the ,? amusement ta.s, but strongly opposed | this class taxation being imposed on rac- r ing clubs which, last year, contributed-! £"251,430 to the public revenue. He v | ehided the Government for having made, -1 no preparation for returning soldieESjJ The cost of living •was soaring and higher, while tho stores were ■oi meat and butter. Tho Government | failed to control wheat and they fatted, g to regulate the supply of meat, and but- f tar, wbile in the case of cheese the besbj was- being sent away. He> wished ttfK point out the great waste that was goi ing on in almost every Government partmenfi. He especially cenrmented ov the item of £3ZB spent on a trip tot' - Hanmer, wlicn the Minister for Affairs invited his friends to go there'? and see him in a top hat and hear himij make a speech. Be-eomplaiued that thej names of tenderers for munitions sup-5 plies were not pubJlahed, that the ■waTS* expenditure was £1.000,000 a month, and that so little consideration was,., shown for returned soldiers, who were) ■expected to travel in second, class raili way carriages, and that no provision.was made to help soldiers pay tie loadV dng ,on their inßurairee premiums. They, speaker demanded that every rejected! man of tho Krst 'Division should be re? 'examined before tbc Beoond Division waft, 'called wp. He disapproved of the sag* gestion tovßcnd boja,«f tire/ 'front. Mr. Massey said there osrojr waa-anjj such suggestion. - Mr. Witty said It was a as should not be made. • • \ Ttlin HtOTBI THHIWIitf^' 1 ""' "'