EVENING SITTING.

Press, Volume LXIV, Issue 13231, 26 September 1908, Page 11

EVENING SITTING.

The House resumed consi-eration of th_ imprest ouuyny liili at j._u p.m. Mr said lie iv_i«t&ed to see oniy Jtiouo on t>uo tehe-mes ox tne .bill lor cue Auvances io .\y oiaum Account. - _ir iiiASSEY, referring to. this tightness of money, again levelled tne criticisms Against the financial policy, ot the Goy_r_i_«nt, advanced by him during the Jb'inancial debate, and protested -gainst the Government coming into couipetition with private borrowers in the local money market. The Jr-RIAI-, MINISTER replied at considerable length to the cricicisms, his speech being closely on Jbhe Hues of the speech delivered by him at the oonclusion of the Financial debate. He again referred to the evil effect of the unjustified wailing of the Opposition in regard to the financial stability of the country, and quoted from the Christchurch "Press," which was one of the most powerful journals in the Dominion, and which* had protested against t_3 insane and declamatory denouncements of somo people against tho financial position of New Zealand. The Prime Minister went on to refer to tho allegation that the Government borrowed from the Post Office Savings Bank. He said the Government must earn interest on money doposited by the people, and was obliged b_ law >to invest that money in public' funds. The Leader of the Opposition must be hand pressed to mako uso of such an argument as that the funds should be idle. A great deal more money had been borrowed by the Government outside of New Zealand in tho past two years, in proportion to tlio total borrowing, than ever before. Sir Joseph went on to say that 3lr Massey and Mr James Allen, like Siamese • twins, went to Palmerston iNorth, and there Mr Massey, in a speech, said the Government bad the intention of spending half a million sterling on the Parliamentary Buildings. Ho would like to know when any member of tho Government had given warrant for such a statement. Mr Allen, in order to bolster up his leader's fallacious argument, had fallen back upon the alleged extravagant expenditure on the Dunedin railway station, the foundation-stone of which was laid by the Opposition party when in j power twenty years ago. just before a general election. Referring to advances to / settlers, Sir Joseph \Vard said that less than six months of tho financial year had passed, and already over I one million storling had been paid out to settlers and workers. He had heard baseless rumours that nearly £400,000 of loans had been authorised, but that people were being kept -waiting for their money. He characterised that statement as absolutely ,untnie; "there was not more than £100,000 of authorised loans which had not gon« to borrowers. Members -who talked about tlio Government doing more, ignored tho fundamental necessities of finance. The Department could not advance in a -week all the money naked for, merely because it -was asked for. Advances were being mado at the rate of £2j300,000 per anramn, and the country could not go faster than that. He was categorically opposed bo tho State Issue of notes, whioh would spell disaster to tho country. Referring to other matters, "Sir Joseph Ward said tlio report on the electrification of the Cbristohureh-Lyttelton line was to be obtained, but ho wished to say that whilst there were settlers who wanted railways and had r.ot got them, it was the duty of the Government to ftupply bheir warts first, before .electrifying an existing line. As for the loasos referred to by Mr Massey, he regretted the Loader of the G-pposition owM acoepfc tho w>c_d of tho Minister of La.nd 3. Tho Bill -was put through its fi__i stages. EDUCATION BELL. The Education- Bill was reportedfrom Committee. Tho House.roe© at 1.35 a.m..