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THE LOAN BILL

FidXANCFS DI^crSSKD. [From Oft Pai;li vmt.svary RK.rouTKn.l WF/PLINdToV. Oetolior 28. | !h,- Aid to Public Works and Land S-Mtlemem* Rib, providt-x l' ;, r a ioa.n of! £'.000.000. wan, the piece de icsifn.an.-e: prcsent-rd to the Rous- of Representative:; ..;-■„ np-ht. P m.tv b- .-aid at the outset that the Mini.-'.or ;•: .hat-;' of the lb!! Vhn. .1. Alien! wa- .'-H'ltsiMy speakiP:; ; ..ider i'm uTitnik-e . -i' In;.-, tie- r«:.>.!tt for j v. hii hj ,wm not aepmcil It if- .no!, lite first ! •ore Hit- "-I'ssion that Mr Ainu b;.-. -li.-- ; paved animus bei' 'he .man. ml point, o{ j Mew v h-'tt h e I;.:.- "-me into L-vips with S'v , .i.'-eph Wind. Full -aibmir- ii-trm-d to ' ■ he .dase. and lh"i;sa:i.V .mil -be" a.-.ind;; of j '<-.rd> w, :-■ irt-'c,, wled: will ...::v.y not '::e "-..fl'T.ii ••Imsa.d' ■•!• ':■• dailv Pre.--'. In movin-.--h-r >e- one -a.hu- ■■:" the Rill. ! Mi- Alloc, said til,.;, i ■• ;--r many ,<'a.- i Innl there 1 >"a» a Imai Rid protv'siu- _!•■■ ..- rrow :--.. intt.'l lit. .e.ey prepc 'il um'ci' ;-i.i measure. Anum-: the jadi. works tor v !•'. it proMsi.oi !i nl '■■" ! ', made was Cm:epki -i-menr ■•;' !"• Pa- hac-. nt.ny Pail-:- j "e--s. d, vi rove-1 !y tl:e ■< P'W veins ~.;- . ! There wis ' ..!<-o a i.-tii-id- :abi- anionic \ , -k-'.i ; ■:• ■<■'.' ;rap:i •-. t v.,e. cf.i the in- : tie..it. tica "f a m-u :e!rp-e-|.i. s.-rvn-e. 1; ; '.•.:•.-iiiso p:. to -p, 1..1 ,i nliPlou i.ou::d f , : "f l-0.'.-ir. .fid - |'.;rli. ill.I!' f'.l ; •H-en fc'.ttk] iiia' tiff:' ■.'■■-i: .: dtlriculiv in i kecT-inc ptihli-' wrk- _-.ee,'. Ct-til the ea-i i ■ • : ' (Vt'fVS-r teey ,--, 'li.' ::.a '■- ■ -uie of C--I oat.ai Fit-ni. Amou,; ti- "'.ce-us f<T- in- | -i mini;: i.ai v' ;-:e -i:::.'':r'l ira asfcrahie v-> : : i - ■ i- he ;. tea! uikh-t' !he i ' < -cut > \.- r eft I ! '■' ' : ett otnd rrsulto'c; .':. m I a.- .-ah- c; 'ar-ds ; - - Pre .v-„ ir .:t. h;r ..- -h- ~:h-:- ha:-..! | v- .- 7;.-i 7;ce,>,',i,"r to botr. v; so rtrmh i 'ro pr.r-pi.-es of htu.i e'ti.-en-u-. A'---- j ■ • Oi-wriiment '. :<i _'• -fit i-'i (ho ::••" ( ;■■'•.!■-. ipi--. :hat th. v would M ■ i '.."\v lnp! !■ i '-,;, ,-•]• «,f rfVell'.te •a' 'tit ('! !'!.::•! ! i-. at h,:u '. !.c on th ! : i, ..: .a th, ;i- t -.-e- ; ■:' £855.e-00. |r.=n,-- rf -! . : £;:-5.0C0. i'v-ii-.ti:-,; : ..',-'.,' •' T.'vii: Phi ua- !o_'-r ':h-o>" ;1 m;,:. • -,.-., i. r ;,-. , x , ~, ... p:-ien. -Finn ;l e,. Rep i:- ; '!:ei; aed a oti.i. >a i and the Conn Rill :.;- Tv--.ru. on to t-,:.' ii. reiran! to '!-'»!-> and o.i.'i;-\.-, thai, the- proposed c\p.nditure of a ■uiMioii was «.:uireiy new, and was f'tilil- , ■■•i_" the policy made soino years a.-o "!' pepdii'.' e. ([ttarte;- of a ni."e"i a- year t"i'i!v n portion < ■'" l:i'- To'!i:«'it would !■■- : s.(| »his yea:a l:s ex[ eroi; me wniild hj ■ -iaend over three year-, mi ,:-• {<> criahh- :;/, Oovrnment to n-iie. dy the ditiicilty , .:•■ sed bv lard s. rflernvnt h.tvin..' cot. in | aivcinr o of i"•!<•! • • 'r,-trii.'io.,. To hi.-, mind i -emc, foil!' ifhllinits would i-e requited f> i o-iti; road ;:d 'e-'d.-- '"isi-ii t ion up to j ' '!' terp'.ir-ii >.'ti ! J . i'.i.tt ties w .-. ,i hj. .jn: . v" Ih; s, ; |-".,•;,,, ..,, . Ib.i'.d. \:'ee "Yes. :; is <;. ; ~,, year. ' ; h.d it ■■•oil. r £: ; .-1,70..) n.i- av.-tii,./■:•• >--\ ';:• :o works oxpenditin ■■, am! there w. o-o:,-:deraiae sums in tile hateK of j.uhia '■rks .'.rti.-er.-. A- to tji,- <.?' ;.'.• eon, y, !■•■ said ! a- abi-o-d that 'he h.-peftu t! ,-,; the hakim • s in i :- ; - S;.o e Advane. s Department, were -., ti;.;i '.-,!■ I rovrmiient .-.-ttld ra:iy .. ■ th- it pales \iork- !■• th. eel of the linaia :,:! y-a.r wi: '■'- .ii' ..'"'.itiC on tiic Lot.doii market, pi.. ■ i .'d»d tie- i,-,-e,-,. r ,; n ienr ."u!d b..i ,''<■■.',- n>o,"ey •' ■'i f.iii.doti to meet The loan nomine ~': the ~nrl of the year. A- he had a-lreadv ' -'at»'d. tli-' Covernment Lad made merits tor a war loan < t £2.000X00 on j most satisfactoi v trims. The fmpeiia' | i iove!ti:ii'-nt were todtm.; tiic nil!, am?.! •he amount vtis paid by monthly; e.-ialntent.-. Cp to the present the rn>' ! . •■ 'he w,ii- to New Zealand had be-n ahou' ; £-125.f0". As. to the i_'"U'T>'il subjec-i of he e!a;nied th.P the Goven ■ '• v.eT.t had fulfilled their promise to redn, ' | iu-iTOwiru'.and had also Muftiied their pre- | mi.-e to .>.,.! tltitt- rnnttey horrnwe.l we-;j - f pended in a more c onomieal mannei'. ; He L.-mtended that, duricc the two years! th,it. the rjoverntnent had iie.-u in oiii.e; •h.-v bad borrowed £l-t,656.5C"c. as ~/aiu-t j .V-lb. 169.775 borrowerl by their pu edeeessors i oariii': the |-revioiis two years. In .a*a::i i t'ori. he i>oint"d nut tliat, i',t> 11 mhiio s ' iia hided £i millions for the redemption .' j '.•an. as ayain.-t si.v millions whieb lip pt.-t Oovernmcnt. had ha«l to raise. The ; Minister went <at to cnnteiid 11 i it. '.'.-. i M.issey Onvemment h.ad rai-ed hauis on ' far iih'i-' favorable terms tiatn i heir pi.- i deiesir-rs. owin-; to tin- f.vt. ~. he ,;... j . iared. that the (Tedit of the »,.i ; . ; r. -,- h. u ! . i i' ;.'oinr. tip ever sin.-e i;-... v iito; ofhee. and he nr-;ed that th" 'Oi'Vernnie-d- : hj i-l a riidlt to the full rrnfil, '-if the lti.'h \ p.-sition they i„,w held ~,. tlie Lnml m ! a arhet. in spite of the fact that tv ' 'e'ioiis aro at war. In spd" >.f sma.ilpox. ' -'.ik'\ ar.d war, the credit. ..f :he c.untiv. ' )m de. tared, stands liii-iter ftnau ; ; ~,.,-' 'i'd in th'- history of the I)omin i,at. "!"-;.. .Minister went on to ; '■•.:. bv ;,■,. ?.,i! cf their letris'a.tii'.ri. ther-- m.d been a, 1 ■ie< rey.se in rustono' fa.v.i'ioit. hn; a: ihei s.rne time the Oradnated Peed Tax: Pad j fif-.-u increased, and the i.-sait. was -he j pen oral increase in tajta: ion. lie declared j tea- the puhlic wet-e ', <s per h-\ad ; ' hroujh the Customs un.hr t::e Mas--'v] ti';:» than they had v;h<l inah-r ;hf ; Wat d or M"ael;en/i'- re ; -iim . 1R , ~,,. \ 'ended, farther, that (he rate went up I every year whil" tlm M'ard I bivei-nn-:i: I ■".ere in ofTieo. .Audi showeo; a ijo,-];.... ■;,,.! nrst year his tlovemment '-otp into Tiowi'i-. I IR-s stressed the point that the Ctndnaf-.'d , Tax had br-n ineie, ls ed ir: oidc. t"' • airrv op. i;ie ( p.vei n.""-nt'- I'ohcv ..;' j

-'■tri.Tiiciir. ;i:uJ s(-ii! ninn' s-et t|i-n:><;.r ■ hj:;! 1 «. -11*1 a11..-,v that ili,> Tt.'aih, |)i U i t -> hj ~! IIH-.TPa.-Prl I.V !-,',!Si.n i.f tin- pievious i';,,. \ emme-nt's Vitiation, idihoturh t!iciv! wore, somr- f.-.-irms urioniiii:e~ mid bald -iri, thereunder. nppnFmox Li:Anr:i: ix rkply. The L",iflor r.f the Opro-ilh i> [Si,- J,■,-<■; hj Ward), in ivrilyin,'. st.-i.-,] that. one o;' -■>•• : ; "«t thirds lie Lad from v ; <> Minister'.-; w,r> tin? the rno-.. {;,,•■ revenue fell the more ih<.h,t yhouhl h--borrower!. Fie wa;- simi'!'- ama/ed wh-ri he heard that th? Government h;i<! t;•,r hj, creased taxation. Ace-t;in;; t,> th>- '■'■■•- vfrrimrnt's r.wn table ; r 1.i.-f ivar. t ; ..> f'ti.'tom? taxation had i, :,;i.^fd 6s 2-1 p--r hrad, and dnrinj: the uhnic time the I ;.;- v .'i'nrnent had been in otli. -\ h,;,t.-;,<i of ,h- ---' ;"■ had Already the War Loan of £2.0C0.<;00 h.-iO Keen drawn on to the exu-nt of £c\">.oi/j ;.. enable the Public Wor!;.« A<voiir,t i.> eland at £90,000. Tt wa,s intended that nn';v the balance of the war loan should 1* <!•■- voted to public works, and vet before thGovernment knew what the war expcn.-.■.-would be the Mintftor had drawn mi thin particular loan to the extent of £50.000. The total amount o: hum-; fo.- the la-; two years was £4,500.0C0. and already i!.-- < government had introduced .loans iio.. Parliament for twice that amount. The loans during the administration of the Liberal Government had been spread pvc:' a period of 20 years, and .ill and had been successfully carried out. Leeauw* the Minister did not knowhow to handle things he fumed round and blamed Forneone else, li the- Government were satisfied with the public work; -xpenditure they w.-ie. very easily .satisfied, and Lift 'year a, total Mini of £1.321,794 wa<= "voted, the building vote heinj; no less than £710.750. Of this sum the Building was responsible for only £35,000 last year. The. railway expenditure was set down at, £6O6,<WS, which was over £IOO,OOO le?s than that for building*, and the Consoiidated Revenue when the Government took office was £782,000, the. largest amount that any Treasury had had to deal with; and although there had been a fall in revenue of £232,559 in six months, the hop. gentleman talked about the increase in the ordinary revenue. The increase m ordinary "expenditure wac vi i v nearly £2.000,000 greater than when the Govern ment took oflk*. and the only thintj they .-•tirom the hon* gentleman, was, ius com-

ple'to indifference to the obligations imposed upon the people. The Minister had accused him (the -speaker) of raising £2.700.000 for Advances to settler* and workers for the vear he went to t,he elections. ,-)f> though he had any control of the applications made by settlers for loans. Since flie Massev party canto into power, notwithstanhine. the fart that they had me; £ i'OO.Oi'.O in the ('.imsni.idat.cd' Revenue. tln> expenditure had fjone up to £2.000.000. and loan money had pone up over £15,000.000. The Minister and his colleacties w.-ie responsible for running: the country in(i> between ti{- and 7 millions a \c.ir. nitwit hsiandin j; the tact that it was ii.if. vr-r kiK.wii what the extent <>!' the

war w. ttld be. H" did no; want to .int.ro<ht' e (Oiitrovcrsi d m.nter---aud his r-i.le i-eoiibl eheejfidiv ,a-.-i-t the Covernment in

do:n_- w!ni( they saw fit in the way of | lo.iTi.- -h:;t for his pari ho would t.OOllOl j ih-' ( iove.-emeiir ii.-u-.-- a-keri for the money j "e.e.-s;!!" aj:d an adjournment made until j il was ~- e-t,aine.l uhat the eife-t of the | war wo.]i.; i:e. ! 'Hill PIUMK M i-itr FUPPDWS. I The Runt Ron. V. Mnseey said that ! the .-prone by the Leader of the (Ipposr- I !i"ti ...uh; i,' I h* raiieri a satisfactory re- \ p'v, ;is She speech by the Mirii«-t«'r of j I'dname shoved that the country was in ' a Hnaneoi! )io.-iti.'i. With regard to i the £OOO.OOO f>.-rv.\: :;md securities, he. -.■ .'odd point '.nl that, trie money was no! 1 ';i'.;:i_' in :;.- cio'i a. u-tiirn as the int-er-i- t taide] which the money as T.'ii.-•■■"!. The hon. -smtlemaii wanted them to '!'-- \ law,- that the (Jovernment had greatly in- \ ( I'c.ised tas:i.tiou. ' si- Joeepi, Ward • X... The Prime Mini.-tcr icul a parao'aph ,'r..in a sf.ee. hj by the I,cider of the Dp- \ v siiion :n which the hitter had slated i tint, in ,-nite of the fait, that, the Cuvcuii:. ii' promised to ledune taxation, they: '■ad iii.-rcast-d ii •■•.- £509.600 -indirect i £15"."./ i and doe, -' iJIVo.GOO -and the : ('li.-r.ue,. .in-as by 5.9 per .ent. Such j a.i biucase a< ;iin; wtutl.-l mean that .-. ttie i of the- < uspants aiti. ie.s had iK-eti iirrreascd, lea' ii.- cm'..! :<-.-k llw l.oii. to ti'i")!ton a iitcpe article in wlui'h the taxn,. •i .:: ii id iiee-. inci,.,.,.•<!. Had not the | loverumeiit. inrou-h Parliament, reditcoil . •nvi-ioa in tie- nay of Customs rlutie.-'' There was no p,r,.:.-ii.iiit.,- of di.-ptltine the f.,et ti'al th.- lioveinment liad redun.d taxation. T':e r> venue was v. rv e.,-. o .', . ■tid. a- a matter of fat. he 'Mr "Mass-ey) did not. knew vbeth. r i: had even 0,,,',,, . ■•• -1.-.- i:, :i.'.1;:,.f ; :ixa 11- at of £j 75.000 lrn.s . .'.'ii' „' to ti'e in. :e u -e -: and vtdues to :i, \ vv:v lar.'e exPnir. and ilie only Im.rcate in direct 'av.ilioii w ,n- tin- inerea.se tn tieCradnapd Ta\, v. hii hj amounted ;., ioimtrv v. as . em -anaed, i! conitiar-'-d l,v'..rahlv with that of any < f IPs MnjestC.-, : Dominions, p.-. ;-d jonrmm a:'. ' a-'- Pine;.- Mim-tv \f-;i! ■-n t-> iile.me t :e i 'pp ..-it'oti P • ti"'- havm;; , tak. ii advan'.it.'e . ■•' ; lie op-p,-.i tut: ity i niferd-'d in '.-'l'.' '.;' raisin_' ail tiie nion.-y : lepaired for paiiile woi kcs. tin- nesm' beii-e; . t.-iiii suhseqii-nit loain- ii id t" b" raise.l .-.• a p'ea'lv in<rca-ed ro.-t. An-inaiio ~-. ' iiile-j... tmri. he ,-.,i11l th,i( 1,.i m.-|iey U; ( s iriio n.pMtalcrcd ['• .r cle. liom-vtitiLT pin i".-e.~, tied he thou-iht the Dom'ni'.n wa-, • •!.■• edirijy hi ky to inu l funds to 1---.1 ;.. .-ett'. i.-- <■■■ In!.- the 1-impire w-is at w,..-. ol HUP SPMAKIIPN M: R.;-.-.■!! .l-verined the Pr-muer'.-- '-. ...n.i:t!.ei in which tin-v left the liian-.c- of : Cm ..etititry i.efoic L'oitiir out, of . fiice. He delated mat vie liovcritment had hrouc-iit down their Pip.lie Works Statement, .-n ti.e .milt.. sC I '.-:"-- licit wh-n in cpivishs.r tiny d.'rciib»-d .if. "debauching t i.o . oitstitueii- i .:..-,"—„. .->'-!.'•: that ttiey had |ne'-ei ; 1 ■.]'.■ dt ' aiiy . tit, tit..';r proi.ii-c p, d.e.ii a Riil rediieiit;,' taxation mi i';;v no i , .--.-a: ie,, ..f l.P'. Tii.• (ho crnnif nt had ; I'l.ivi-e hi'.'keii titeii' p'Omi.-.- [.. hiine in ;; Ih'i with iu-uraii.e ;, 'ain.-,t oak- ' :;•,-.- and tipeaii loy men;, "In the nesst ; hsandalotis ami ;iiainetul manner tfiey have . broken their plod-as." lie ,-;iid, "and they riaiid there naked and tiushatncd." CritP . isme; the Public Works allocutions, he pointed out- that ia.l year the Coverumeni v. ;..<! £615.000 : ,;• mad* and bridges, and . sp.-ut £577,000. This ..lection) war thev ' had taken votes for £750,000. fn tuiiilii- ; .•mm 1:,- declared that, "tins wretched Co veMimeu!, with their cant ami hypo'Ciry. are putting torward a series ot ; \i,;.,.- Pr C',. liKi'e purpo.se of deceiving the > i ..-m ;i?ti-nc:e.s aaid buying themselvce. back' int.. ndjiie." 'I lie pu'ldic would not be de ■ ce-ived tw;, e. I hep- |nid never been ;) . (.'ovei iris ;it tiro had ie.-u ,-o pnilific w. \ th"ir promise;- .old .-o y■»'-.■ in their per- ' h.ad of tin- populatnui iiad in. tea.-cd siuie I the advent, .a the Reform Covernment, i woo had taih'd to I'tilhl tiie pledges under i which they had cm, r. d . n ."-cupancj- of' tile Treasury pen- p.-.-. Particularly be; uru.-il that, boi fowin,' had ant vc- i ,h;,ed, put, had b..-n mcreas-d e.n.e t:te I Pefr-rm I h-vernmeio name pit,.. ..fli. e. A- j for Mr .NPts-ev's .stammeiu .hat when he ; .a um into nili. e the T'n a.-ury writdepleted, he .the sfu-ti-k.-r) would j-oint out that- the financial pr.sitp.n was .-?.. t-al'n- j tielory thai th- Piime .Miuifi.-f vac, abb-, to oa'rv on for .-ev.-n momhs without, o-,-p. the maik'-t ! :• e man. I lu'y lae li.ni in Cu-toms daties. , i; pl Mjpdy pot the ; mem nad kept their pi. d-ms of deeieas. d ■ port'..wiper, as th'-v had in'rejped ir bv au j a vera.'". ~f £2.000.0'.'".' a year a.- .-omp.uvd with the 10 yeais oi tin-- previous Admin:.t rat ion. Idte Hop W. Placer IM iui-aer "f Pni.oW'oi'k.-) emphatieadiy d-aii. d Cm suil'-menr t'ii.at lie had t-t<.[iped puMiC works. It ua:h ,-{<•• t-ly true, and it was no use the otl'e r ride d.-'nvin-c .it. that when (lie (dovernii"iit took ptti'-p inoiiey wa-s difHeiil: to obtain. No country should he so de-.ply ill <;edit that it was at tin- m n r'y of tmlenders, but, this wan, the pemtimi. uiien tii- *our and a-hait miidon loan war-. .Mmn-tei) was. ctat.-d to have etopped ],\\\>- li. works he had .pent £'AoB.o7B on roads and bridges, and m I°ls 14 tiie amount, wins £493.640. Mr MacDotiahl i,a„i,.l that the Cov.-rn-i..,,i,t did lac know what tmainaa! dltitcaiti,.s .l„. v w -.e drifting into, and the |e•u>, p'sil'Ulid do. "No'noi-r is. more I'tii'TKii'i'", '■ a: i or si.h-v. "!h;;u tiie minp..r in wht. ii '.lie ' hi\ernmor eavn (hma things wh'. :t they demaiiice 1 the j.revieus Covernmc tit t..|,j, o-o." -pt-u- Covernment we;a not, ia h.-iritjir-r down in the (ivm;; hours of tm--CcsiorCsiioh au im|ortan'. mat.r-r a> thPiit.lh- Works l-lstimatvs. Mr fill protest, d m/a-in.-l fiie up:.or <m!i , 1-m which was mm.ed out- to hji r . party u'.en in I'llio . 'tiiey had in'rii ite'ifc'-l <•; e\:ia\a-_cance in providing public btl'ddin"-, yet the (Jov-rnmem prop.»sed t' -■r,i.d "more- 'uoncy tlian ever. \t 1.P5 a.m. the flottse went into (nilinitiee on the I'd'.!, whi. hj was reported without ..meudment. read a- third time. : and Jiacoed.

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Bibliographic details

THE LOAN BILL, Issue 15635, 28 October 1914

Word Count
2,584

THE LOAN BILL Issue 15635, 28 October 1914

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