POLITICAL POINTS

Evening Star, Issue 22470, 15 October 1936, Page 2

POLITICAL POINTS

SESSION SHOULD END BY LABOUR DAY fl'uOM Our Parliamentary Uevorteu.] WELLINGTON, October 14. Tbo Prime Minister, who caugnt a chill during the wceK-end, Jms been absent from the House, but will resume this week. His duties as Leaner of the House have been taken by iLr Eraser. Minister of Education, who tonight was again asked by the .Leader of the Opposition when the Government’s final sessional programme will bo announced. Under the circumstances Mr Eraser was unable to comply, though ho genially suggested that everything depended on the desire cf the Opposition to co-operate, and their sweet reasonableness which, while conserving time, would not diminish their keen criticism. Mr Poison: Can you give ns a shot when wo are likely to go home? Mr Eraser replied that, under the conditions ho had suggested, the session should end by Labour Hay, October 24 —a most excellent day to finish. However, if the Opposition wanted to get home they had the matter in their own hands. Mr Langstonc: They could go homo now. (Laughter.) ♦ * ♦ • EXPANDING HIGHWAYS REVENUE. Tiio main highways revenue, which comes principally from the petrol duty, is expanding this year by 10 per cent., announced Mr Semple (Minister cf Works) in the House to-night. This meant an additional £200,000 during the year. Ho men lioned_ this fact in order to reassure Opposition critics of his Main Highways Bill that its proposal for the Highways Board to take solo control of 4,000 miles of arterial roads would not mean neglect of the other 8.000 miles of main highways. The Bill, ho explained, relieved the counties of £120,000, which could, be easily secured from increased revenue, but tho total expenditure on roads this year was three and a-half millions, which would be distributed over tho whole 12,000 miles, and the Government would spend over a million on secondary roads, for it was not going to relax in any way. Emphasising his contention that thore must be better control over tho main highways, Mr Semple spoke oi recent subsidies to replace bridges which ho declared would never have been built by anyone who knew anything of modern construction. The liabilities of the counties in respect of reading and bridging totalled over four millions, and there was a good deal cf fault to be found in connection with tho building up of that debt, because a good deal of what it provided had been washed into the Pacific. • w » • RURAL CREDIT SOUND. At the conclusion of nine years’ operations, the Rural Intermediate Credit Board reports to Parliament that the position of the system is entirely sound, and that ample funds are available to meet all demands likely to bo made for accommodation. The considerable sum of £1,232,146 advanced since its inception indicates tbA substantial volume of loan business which has been transacted, especially when it is borne in mind that the average amount of the loans is between £2OO and £3OO. The outstanding feature of the board’s experience has been the exceptional manner in which interest payments have been kept up and principal repayments effected, even throughout the recent years of depression in the farming industry.' The report acids that it is gratifying that only one loss has so far been suffered by the board, for an amount of £SOO only. The 39 associations, with 2,134 members, are actively operating. The result of tho liquidation of one association has been a dividend of 15s in the £, and it is understood that sufficient will be eventually available to meet tbo balance owing. Loans during the year, £66,932, showed a reduction on the previous period, which the board ascribes partly to the large volume of funds held by tho banks and other financial institutions for advances on suitable securities at a reasonable rate of interest, and partly to uncertainty regarding the future administration ot the rural intermediate credit system.