THE SESSION

Evening Post, Volume CXV, Issue 24, 30 January 1933, Page 10

THE SESSION

THE COMING WEEK

BANKS f INDEMNITY BILL

LONG (EIGHT LIKELY

Parliame.it will be occupied for the greater part of this week on the Banks Indemnity (Exchange) Bill, which makes provision for the indemnification of the trading banks in New Zealand against anj loss that might result from the high exchange rate. Only three speakers have taken part in -the second reading debate so far, and as most members will desire to place their views on record it is likely that the second reading stage' will occupy a considerable time. The debate was adjourned oii Friday on the motion of the Minister of Lauds (the Hon. E. A. Ransom),, and it is expected that Mr. Ransom will be the first speaker when the debate is resumed to-morrow afternoon. It is probable that Mr. Ransom will devote the greater part, of his time to a detailed survey of the difficulties being experienced by the primary' producers. Mr. .Ransom is a close student of the problems of the primary producers, aud his speech should- be of outstanding interest. \ All eyes will be on the ex-Minister of Finance (the -Hon. W. Downie Stewaa-t) to-morrow, for it is expected that Ac will take advantage of the opportunity of informing the House of the reasons which actuated him in leaving the; Government. It is possible that Mr. Stewart will be followed by the Prime Minister (the Right Hon. G. W. Forbes), who as yet has made no full explanation of the Government's exchange decision. The debate' to-mor-row promises to be full of interest, and at tthe end of the day it should be possible to gauge the nature of the support that will be given to the amendment which has been proposed by the Leader of the Opposition (Mr. H. E. Holland). The division on Mr. Holland's motion wJll determine the fate of the Government, but it will not mark the end of tho struggle. The Committee stage of the Bill is likely to be strongly contested by the Opposition, and some late sittings are in prospect.. * j The Prime Minister said to-day that urgency would be taken for the passage of the Bill to-morrow, but this does not necessarily mean that the House will sit right 'on until the measure is passed. Mr. Forbes intimated that he would be satisfied with i-easonable progress. It is certain, 'Jhowever, that the House will be sitting until midnight or later each night, with jtho prospect of an "all-nighter" fo-rward-the end of the week: ' Mr. Forbes said to-day that he was jaiot yet in a position to say how much , legislation would be necessary to give ' effect to the Government's policy, as outlined in the statements' submitted to the House on.Friday. There is no> doubt | that the contents of Mr. Coates's statei ment has caused considerable dismay among membOßS of. the House. It is pointed out by a number of members that economists .hold the view that it is ' essential tho Budget should be , balanced when exchange is arbitrarily I fixed at a high rate, and the prospect of a largo floating debt is viewed with some alarm.