Parliamentary Gossip.

Auckland Star, Volume XXV, Issue 225, 20 September 1894, Page 2

Parliamentary Gossip.

NOTES FROM THE GAtLERV

THE RAILWAY BILL PASSED.

(BT.TELEGBAPH.— parliamentary re-

PORTER.)

■ Wellington, Wednesday. The greater part of the afternoon ia wasted in useless discussion, for which opportunity is given by Mr Pirani moving the adjournment of the House. Ab 4.30 we ereb to the orders of the day, the firsb of these being the Railway Bill, which has come up from Committee, and to the surprise of all is reported on, read a third time, and passed without a syllable of diacuasion, ■ THE RATING BILL. V ■ The Rating Bill is then further considered in Committee, but as the alterations made to it up to the dinner adjournment are of a purely technical character, I need nob refer to them. After dinner the Committee resumes its task, and clause after clause of the measure is-allowed to pass, or is subjected to criticism. There is nothing in the discussion of an interesting nature, and the gallery sighs in vain for material for "copy." The first rather extended halt of the evening is made on Clause 63, which provides that rates overdue for two years cannot be recovered.

There are many members who hold that this clause should be struck oub, and after a long discussion on the poinb, a division ia taken on the question, with the resulb tbab the clause is retained.

When we reach Clause ,70, which provideis that native lands should not be sold for rates without the sanction of the Trust Commissioner, Hone Heka stands up and moves bo strike oub the greater part of the clause, so that only thab parb of it which provides "thab no native land shall be sold for non-paymenb of rates " shall remain.

none Heke strongly objects to native owners being taxed on bhe unimproved value of bheir land, because very many of bhe natives are not in a position to improve their lands. In answer; to. Heke, the Treasurer says that he cannot accept the amendment), and he goes on to show how native land, in common with that held by Europeans, has benefited by railways ■ and other advantages of civilisation, but Hone stoutly maintains that, speaking generally, native land owners have not derived any prospective profit from railways, and, seeing that the natives do nob hold bheir land for speculative purposes, as is generally the case with Europeans who hold unimproved land, he holds they should not be similarly taxed. Sir R. Stoub takes the part of the natives. He thinks the clause is nob required, for he holds thab bhose natives who can pay rates will do so. Leb ub deal genbly v with the native race, counsels Sir Robert.

The Hon. Mr Ward reminds Sir Robert that the natives are nob breated harshly, seeing bhab they are only taxed on half value. To' strike oub bhe clause will be to pKt the natives in such a position that bhey can seb local bodies ab defiance.

From this p"oint discussion broadens out, and we find ourselveß discussing the broad question of how natives should be treated in the matter of taxation. Mr O'llegan is strong in the opinion that the tax department and the Government generally should bo no respecter of persons, bub exact from the Maori the uttermost farthing which is exacted from the white man., ..'A-iM&t ■■::. ,^>~- ..:-;-;•>-■ ••• •-• Sir R. Stout and others cbmbab this view of the matter, while Mr Bell, with great justice, inquires whether the Maoris asked, us to come to th^' "colony, and make'those railways from which we declare they have derived so much benefit. Bub bhis way of putting this equity argument ia laughed to Bcorn by the House as old-fashioned and ridiculous. . ' " Make the natives improve their land," says E.M., in whose districb there are thousands of gorse-covered acres belonging bo Maoris, and he expresses the opinion of the majority of bhe House, so when a division is taken bbc clause is retained by 41 to 15. - After this we rush rapidly through the remaining clauses, and at quarter pasb nine the Bill is reported, read a third time, and passed. NEW ZEALAND CONSOLS. A few minutes later, Mr Ward is on his feeb explaining his New Zealand consols pcbeme prior to moving its second reading. He said the Bill was necessary in order bo enable people to deposib larger sums of money than could bo placed in the postal savings banks, which diet nob pay intoresb on larger sums than £500. Building societies and other societies which could not now deposib more bhan £500 in bhe postal savings banks would be able to do so under bhis Bill, and receive four per cent, interest. In the British Dominions the system of consols had existed for many years with great success. One purpose for which consols money would be used would be for paying off from time to time Treasury bills. The maximum amount of consols was one million, and the rate of inberesb was not to exceed 4 per cent. A safeguard bad been introduced into bhe Bill bo prevent syndicates outside bhe colony from investing in these consols, and if the Bill were not properly safeguarded in bhis respect, he should be willing to amend it in Committee to meet such an objection. When he told them thab the amount of consols in England reached 535 millions, he bhoughb ib was sufficient bo show thab thab form of investment was considered in thab great country a sound one.

Dr. Newman thought that; before long the people of this colony would be urged to hand over bhe Urge amount of debt thab this Government was heaping on them. This Bill was only anobher one of bhe borrowing measures introduced by the Government, because the finances of the colony are going to the bad so quickly that this money was required to keep ib up. He would like" to know what the Government really intended to do with this money, for if it was only wanted for Treasury bills he hoped bhe House would nob pass the Bill.

Sir R. Stoub said nothing pained him more than to, see the easy jaunty way in which proposals to borrow millions of money had been received by the House. If all the financial Bills of the Government were carried, the colony would be pledged five and a quarter millions for this year, and two and a-quarter millions for next year, and so the amount would go on increasing. They were simply going by this Bill to borrow a million of money, and convert the floating debt of the colony into a permanent debt for forty years. By encouraging people to take up money by these consols it would limit the business of banks and financial institutions, cripple the business of every manufacturer and trader in the country, and cauee great injury to all mercantile business. A grave responsibility rested on the House at presenb, and they were on the eve of a great financial crisis such as he had never known for years past. From every point of vies? the Bill would injure the colony, and it would not improve a hundred of our people. ' Mr Seddon expressed his supriae at the speech just delivered, for he did not expect to find in tho senior member for Wellington an apologist for financial institutions and syndicates./. This, was"the first opportunity that had been given to the people to invests

in consols of their country, and it/was forced on them by the fact that thousands of pounds had been leaving the colony for years past. Money had also been locked away in safes, people being disinclined, after the Auatralian crisis, to trust even the postal savings banks, but he was glad to say the people had every confidence in the Government, and would willingly place their money with them in consols. Instead of injuring commerce, the Bill would assist it by keeping tke money in the colony, where large eums of money were lying ready for investment., The Colonial Treasurer had been altogether misrepresented by Sir R. Stout when he said the permanent debb would be locked up for forty years. The Government had no desire to weaken the banke, and this Bill would in reality strengthen their position. He denied that this scheme was borrowing, and whatever money the Government were asking the House to grant they intended uaing for developing the country and promoting settlement. Captain Ruseell said it was amusing to hear Mr Seddon talk about his being the apologist for syndicates and financial institutions, when Mr Seddon was the leader of a Government which had done more to bolster up banking institutions than any Government that bad ever sat on the Treasury benches. He (Captain Russell) regarded tbU Bill as a perfect monstrosity, designed to give tha Colonial Treasurer a' million ot money to squander in any way he chose as soon as he could get it. If the borrowing policy of the present Government were persisted in, the credit of the colony would be absolutely damned, and repudiation would be the word that would be used. He. moved as an amendment, "That it is desired by the New Zealand Consols Bill to still further extend the policy of borrowing in direct contravention of/ha will of the people as declared at the last general election." Mr George Hutchison seconded the amendment, and strongly condemned tlie Console Bill. He quite agreed with Sir B. Stout that they were on the eve of a great financial crisis, and said that a. Bill of this kind was never resorted to except as a last resource. It was a most wanton and profligate scheme introduced by politicians of easy virtue. Mr Beeves said that Captain Bußseli's amendment was a direct attack on the Government policy, and this time it had come from the proper quarter. The Government; expected their financial policy would be attacked, and that it would be attacked by representatives of financial institutions. If the Coneols Bill were not passed the Government would raise the same amount of money, but by. other means. Simply;put, the qaestion was, whether they would have a certain measure of consols, or a certain number of Treasury bills or debentures ? So far from this scheme taking money from the Bank of New Zealand, it would pub money into it, because every sovereign received as consols would be deposited in thao Bank. He saw no cause at all for thinking that to invest money in consols would weaken the banks., Mr Buchanan strongly condemned the Bill, and said the speech just delivered by Mr Reeves consisted, of tragic humbug of the most transparent character. Mr G. W. Russell supported the Bill, and Messrs Bell and Crowther opposed it.

On division the amendment was negatived by 38 to 16. For thaamendmenb(l6): Bell, Buchanan, , Crowther, Barnahow, Fraser, Harris, Heke, G. Hutchison,- Lang, Massey, Mibohelson, O'Regan, W. R. Iluesoll, Saunders, G. J, Smith, Wilson. Againsb the amendment (38): Buddo, Buick, Carncross, Carnell, Carroll, Collins, Flabman, Graham, Hall, Hall-Jones, Hogg, Houston, W. Kelly, Larnach, Lawry, Maslin, McGowan, J. McKensrie, R. MacKenzie, .MacLachlan, McNab, Meredith, Millar, Mills, Montgomery, Morrison, Parata, Pinkerton, Reeves, G. W. Russell, Seddon, E. M, Smith, Sbevene, Steward, Tanner, Thompson, Ward, Willis. Pairs. — For the amendment: Green, Allen,-Button, .JDuthie, .Newman,, J.jW. Kelly, TeAo, Stout. Against) the amendment: Mackintosh, Cadman, Pirani, Joyce, Guinness, Wi Pere, W. Hutchison, Duncan. :. The debate on the second reading was then adjourned, on the motion of Mr Montgomery. . . The HouseTosa at 1.20 a.m. NATIVE LAUD COURT BILL. The Native Land Court Bill, which has been before the Native Committee for a considerable time, passed through that Committee yesterday. The Bill has been divided into two parts, first administrative, which puts the Native Land Court upon a good working basis, and the second (native land dealings), providing that land may be dealb with on the Committees' system. Where there are a large number of owners in a block they may appoint a Committee to act for them in the disposal of the estate. The Committee struck out the clauses giving a pre-emptive righb to the Crown yesterday. BANK AMALGAMATION. Mr Pirani asked the Colonial Treasurer if he would consent to the paper laid op the table about the bank agreement being referred ab once to the Public Accounts Committee, giving full power to that Committee to investigate the statements made therein. The Treasurer promised that.the advisability of pursuing this course would be considered by the Government. The Treasurer also stated that complete balance-sheets of the Bank of New Zealand and the Colonial Bank for the years 1888 to 1893 inclusive, will be printed and circulated for the convenience of members. JOTTINGS. The Treasurer's speech on the cheap money, scheme was most clearly enunciated, every sentence constructed on the strictest grammatical principles, and every argument followed closely but to its conclusion. The Government do nob intend to ask borrowers under the Government Aid bo Settlers Bill to pay mortgage tax.