GENERAL ASSEMBLY.

Temuka Leader, Issue 2696, 9 August 1894, Page 4

GENERAL ASSEMBLY.

HOUSE OP REPRESENTATIVES. Tho House met at 2.30 p.m. on Tuesday. THE FINANCIAL DEBATE, Mr Saunders resumed tho debate on tho Financial Statement, and spoke strongly against the borrowing policy that had been pursued in the colony for years. They had had no money to speak of in the colony for the last twenty years except what had been borrowed in England. They had been borrowing £45,000,000 of money and had paid £50,000,000 for it, and they had at present £40,000,000 to pay. He hoped that the House would not break the pledge which it made in 1*92, and go in for a further sys'em of borrowing. He regarded the present Budget as a distinct departure from the policy of self-reliance laid down by Mr Ballauce. Mr Mo Nab said that it was too late now to declaim against borrowing, and their aim should be to restrict it as much as possible in the future. He admitted that they could not get on satisfactorily at present without borrowing in some shape or other. Be expressed delight with the proposals for promoting the agricultural industry, and urged that the railways should bo placed more directly under Parliamentary control. Mr Fraser admitted that it might be advisable to borrow if tho money was to be properly spent, but there must be some safeguard against spending the money recklessly or injudiciously. He congratulated the Government on what they had done in the interest of agriculture. The debate was interrupted by the 5.30 p.m, adjournment. The House resumed at 7.30 p.m. Mr Duncan approved of the cheap money scheme, and said that the proposals with regard to land settlement were absolutely necessary. The Budget generally had his support. Mr Duthie pointed out that the colony was iq a w° rß ° position by £2,109,437 since the present Government took office, which was not a bad record for a professedly non-borrowing Government. He complained that the public accounts of the colony were not kept in a reliable manner, and showed that tho figures of the surplus were not to be depended upon. The estimates were also considerably increased since the last year the Atkinson Government were in office. With respect to the cheap money scheme,'he asserted that the Government could not obtain money at 3J per cent. Cheap money could only bo had where there was good security, and they would not be able to get cheap money owing to the harrassiug policy of the Government. Mr G. W, Russell said that the present Government had shown a surplus every year, notwithstanding tho enormous shrinkage of land values and bad harvests. The net increase of the public debt during the last Atkinson Ministry’s term of office was nearly £750,000 in excess of the increase during the three years the present Government had been in office. He hoped that tho dairy and coal industries would be developed and that the coal monopoly would bo broken down. It would, he said, be the duty of the Government to attack tho coal monopoly and to open State coal mines, so that coals could be distributed -u over the colony in steamers controlled by the Go:“ VUUJCI)t - Mr Lang approved of seV6r.il of th® Budget proposals, but there were some h thought would do serious harm. Mr Willis said that the more ha considered tho nudgot proposals the more ho felt convinced that limy gave satisfaction. He believed that the cheap money scheme was in the right direction, but the greatest care woo id have to Le exercised to see that leans wove given in a judicious w y. Mr Ms ssoy spoke at some length on the opening up of native lauds for settlement, and 'said that he did not believe that putting the unemployed on laud without any capital would bo a success. He was opposed to an import duty on fruit, and favoured a reciprocal tariff with the Australian colonies. He strongly opposed tho borrowing proposals of Hie Govern mont, and said that nearly every member of tho House was pledged against borrowing. 'I he debate was adjourned, and the Houss roaj ut 12,35 a.m.