TO-DAY'S PARLIAMENT.

Evening Post, Volume L, Issue 41, 16 August 1895, Page 3

TO-DAY'S PARLIAMENT.

♦ HOUSE OF REPRESENTATIVES. THB B.Ni OP NEW ZEALAND QUESTION. The Prcmior moved to postpone the Financial Debate, in order to setup the Bank of New Zealand Committee, so that it might go to work to-morrow and Monday. Mr. Earnsbaw wished to know if this was to be a secret committee, or if overy member of the House might be present. If it was to be secret he would object to its constitution. Leave having been given, The Premier moved to set up the Committee. Tho Budget, he said, had already expressed the Government view on the matter as to the need for a Joint Committee to investigate and report. There was a general consensus of opinion that this was a proper o^nrse By sitting to-morrow and Monday the committee should be ablo to consider tbe matter. All sorts of abaurd rumours wore about regarding it, and it was necessary to proceed at once to set these rumours at rest. The most preposterous questions were put him.. He had just been asked whether it was correct that Government n»uld have to find £10,000 this year. That, of course, was absurd. The Committee. would deal with the matter and settle it finally on a bußinesslike basis. The delay in the matter was dne to awaiting the reports of the officers who_ had been; to London , and of the Auditor here. Government had guaranteed two millions. One point to be investigated would be regarding the one million reserve whioh had to be kept liquid. That meant that the Bank had to invest this at a lower rate than it paid, and hence the purchase of Consols, which, however it appeared to the ordinary mind, was aotually a gain. In further disonsg ; on, the Promier said last year the Government made an investigation, but bo was not going to cay whether the information then piocnred was corrtot. (Oh!) Those who gave the .information were, it now transpired, not themselvos fully seised of the position. (Oh !) To the best of its ability the Government did the proper thing. Tho Committee of the other House was given the same information as the Government received - (Captain Rnasell — That was none) — and oime to the same conclusion. Under Bimilar'circqjnstances he would do the earns thing again, but not in tbe same way. if Ministers had had hist year the same information as they had now they would not have asked tbat tbe assets of the Estates Company be placed on the Statute Book at their book value. With that exception Ministers had nothing to resret. I Left sitting J