PARLIAMENT.

Wairarapa Age, Volume XXIX, Issue 8172, 30 June 1906, Page 5

PARLIAMENT.

LEGISLATIVE COUNCIL. By Telegraph—Press Association. WELLINGTON, June 29. The Council met at 2.39 p.m. Among the papers presented by the Attorney-General whs the correspondence relating to the future organisation of Colonial Conferences in Loadon. The : Hoa. W. 0. F. Oarncross moved the Address in-Reply. He referred to the death of the Hons. Kenny and Pinkerton, and eulogised the services rendered by both men. The speaker also referred at length to the death of the late Premier. The Hon. J. E. Jenkinson seconded the motion. Since 1894 the late Premier had passed about forty Acts all affecting labour interests. The workers reoogniaed that in the late Mr Seddon they had had a friend. The Attorney-General thanked the speakers for the manner in which they had moved the Address-in-Reply. Although the affairs of the colony were open to discussion on an occasion like this there would be ample opportunity during the ensuing session of Parliament, which could not he delayed more than a , few weeks, to deal with any subject. I The motion was then carried. | The Counoil then adjourned for the presentation of the Address-in-Reply to His Excellency. On resuming at 5 p.m. the Speaker reported the formal reply of the Governor to the Address. The Council resumed at 8 p.m., and passed, without discußsion,. through all iils stages the Publio Revenues Aot Amendment Bill. The Council then adjourned indefinitely. HOUSE OF REPRESENTATIVES. Tbe House met at 2.30 p.m. Leave of absence, for the remainder of the session was given to Sir Joseph Ward, and Messrs Kaihau, McNab, Aitken, Fowlds and Bollard. The Premier, in moving to that effect, explained the difficulty of his position in having been compelled, while Sir Joseph Warn is the colleague everywhere accepted as the successor to the late Premier, to take office himself in the absence of that colleague. In determining to act as he bad determined be had consulted only his feelings of hopour and loyalty. He would have to aak for an adjournment as the oniy course fair to all parties. He would undertake while asking for an adjournment till August 14th, that the House would meet some day between that date i and the 21st. , Mr Milllar moved the Address-in-Reply. The late Mr Seddon was one of the greatest Premiers of our history, said Mr Millar. At the outset he had shown his oourage and ability in the banking crisis. The I late Premier was perpetually thinking of helping those who oould not help themselves. Mr Millar congratulated Mr Hall-Jones on the faot that he was the first member returned to House under the one-man-one-vote.system. He also oongrgatulated him ou the admirable manner in whioh he had conducted the business of the House and oountry in the present trying time. (Hear, hear). He congratulated him as a financier who had been able to make a good statement and a good forecast. He concluded with a wish, that he might be leng spared to do good work in tbe House. Mr Baume, who seconded, referred warmly to the character of the late Premier. The Address was unanimously adopted on the voices. . With a granting supplies the Publio Revenues Aot Amendment Bill was introduced and read a first time,; and the House adjourned for an hour, ostensibly to f enable its representatives to wait on the uovernor with tbe Address-in-Reply, but really to enable the members to peruse the Bill. On resuming the Premier moved the second reading of the Revenues Bill, explaining that its provisions were designed to provide an authority to enable the public expenditure to be met during the period of adjournment, whioh is now specially under a system requiring Parliament to be in sea sion. 1! moreover enabled certain inureases to be made in the railway service as 'provided last year (by repairing an unintentional Legislative omission),, and it provided for the necessary transfer to the Publio Works Fund and made provision for £50,000 for the Christchurch Exhibition. Mr Massey thought the position very difficult. By adjourning, tbe House is asked to declare that there is only one man in the House able to carry on the business. He thought there were several on his side. He would undertake to pick two without exhausting the roll. (Laughter). He was ready to admit that Sir J. Ward had tbe best right of any one to the Premiership, but he was absent. Parliament, he thought, ought to go on with the business. There was much to be done. He referred to the provision for the Christchurch Exhibition, finances, private members' wor.k„ the revision of tbe tariff, and the setting up of the Comrriittees. Had an adjournment of two or three weeks been amked for no objection would have been raised. He feared adjournment would indefinitely postpone the tariff revision. He wanted, in view of the fall of interest everywhere, to see the rate of interest in local bodies loans lowered at jOnce. He would like to see the land question settled this year. He referred with anxious mind to the Valuation De nartment, protesting against the determination evidenced to raise every possible shilling of land tax. He urged the earlier production of the Public Accounts, an improvement he would at the proper time insist upon. Coming bnok to the Bill be thought that more money was asked for than was necessary, and that j Clause 4 seemed to show that tbe direction of the House last year to pay £700,000 over to the Publio Works Fuod had been ignored. He did not object to graut an adjournment.

Mr Alien (Brace) thought more papers were required to justify the' requirements of the Bill. H& criticised the finances as shown in. the Publio Account. Mr Herries dealt with the clause devoted to the Maori people, and touched on thß native policy of the Government which he criticised; for dilatoriness in the appointment of the Boards. The Premier again pointed out the need for the time asked for, and promised if it were granted ta see all Bills prepared, all accounts ready and everything in order. He declared the state of the Fublio Works Fund to be as follows:—■ Credit balance, March 31st last,. £492,000, less advances in the hands of officers £66,a20; balance,. £426,000 ; Receipts, April Ist to June 27th, Loan £IOB,800; Transfer Consolidated gFund, £250,000; total, £368,608, making% a total credit of £794,000. Siuce March 31st the expenditure was £488,000, leaving a credit balance of £306,030. The Bill was read a.second time on the voices unanimously, and passed all the remaining stages by 6 o'clock, when the House ad- | journeu for dinner. [ The House resumed at 8,30 p.m. A message from the Legislative Council announced the passing of the Bill in the Oouuoil. g | On the Premier's . motion, the House agreed at its rising to adjourn till Wednesduy next out of reSDect to the memory of the late Pramier, the Right Hon R. J. Seddon. The Bill having received the Governor's signature, the House adjourned at 8.45 pm. till Wednesday next, at 2.30 p.m. PUBLIO SECURITIES. A return presented to the Houso on Thursday showed the publio securities held in the colony and in England as on March 31st, 1906. From a summary of the statement' it appears that the total securities held in the colony amount to £13,122,663, the amounts given, being as follows: Post Office, £5,125,432; Government Insurance Office, £2,486,61^; Public Trust Office, £1,851,699; Government Advances to Settlers Office, £3,126,988; Commissioners of Public Debts Sinking Funds, £98,650; the Treasury, £433,281. The total securities held in London £1,624,740 as follows:—Post Office, £3,528,240; Government Insurance £625,900; Commissioners of Publio Debt Sinking Funds. £3,000; the Treasury. £167,600. This makes a grand total of 17,747,403, the Post Office being first on the list with £8,653,672. It is interesting to examine the return and see how this, huge sum is made up. Lands for settlement needs, of course, an account for a very large amount. Under the Act of 1892-94, and 1897-99, a total of £741,066 (the due date of these securities being Ootober of this year) is set down. There ia another £G2,OCO worth of securities under the same head maturing in April, 1909. LJoth these amounts carry interest at the rate of 3 1 4 per cent. Under tbe Lands for Settlements Consolidation Act, 1900, tbe»-e is a batob of six lots of securities, due at various dates, end carrying interest at 3% and 4 per cent., totalling £71,725, but a considerablu portion of this sum has been drawn from the Treasury and the Sinking Fund Uotnmisaioners. The Post Office contributed to Aid to Publio Works and Land Settlement Act, 1899, £125,000; in 1901, £32,600; in 1902, £100,000: in 1903. £5.825; in 1904, £167,900. Other . securities held by the Post Office include: Publio Revenues Act, 1893, £730,000; State Coal Mines Aot, 1901, £140,000; Hutt Railway and JRoad Improvement Aot, 1903, £45,000, and 1905, £55,000; Greymouth Harbour Board, £100,000;. Westport Harbourgßoard, £489,500. Securities on mortgages amount to. £7,007,541..