PARLIAMENTARY PROCEEDINGS

Hawera & Normanby Star, Volume LXXII, 21 October 1916, Page 5

PARLIAMENTARY PROCEEDINGS

(Renter Service.) LONDON, Oct. 20. In the House of Commons, replying to criticism of the high, rate of interest on the new Treasury bonds, Mr McJienna (^Chancellor of the Exchequer) ■ declared that pre-war standards were inapplicable to the present situation, owing to the immense sums required. He instanced that we were paying two millions sterling to the United . States every working day. That looked an impossible task, but we had accomplished it, and there was no reason to suppose we would not continue to do so. Hence the necessity of raising money in the United States. He mentioned that thirty-six millions of 6 per cent. Exchequer bonds had been sold m a fortnight. ±h.e present moment was'•unfavorable to a long term loan. In the House of Commons, on the second reading of the Rhodes Estate Bill providing for the disestablishment or German scholarships Mr J. King moved its rejection, criticising the trustees' methods to carry out the object m view. He admitted that a reversion to pre-war conditions was impossible.

CoiOnel Yate suggested that the trustees be-invited to consider the allocatoon of one of the proposed forfeited scholarships to India. . Mr H. J. Mackinder, on behalf of the promoter of the measure, said that the House would agree that a long time would elapse before Ges*nans would again be acceptable at ox^|. i*i. 11^ withdrew his Opposition, and the Bill passed the second reading. bir Ji.dwa.rd Carson asked when it would oe possible to get a Government statement regarding Roumania, in view of the prevalent anxiety. .Mr-Bonar Law said it was undesirami make a statement at present. There was a record for "Flag Day" m London, on behalf of the British Ked Cross Society and the Order'of SiJohn of Jerusalem. Thousands of ladies, nurses, and wounded soldiers wene selling thirty-five million rßed Cross flags and & million aluminium souvenirs cut from the Zeppelin that was brought down at Cuffley. Zetmelin bracelets were selling at five guineas apiece. Leading society women and actresses were collecting in hotels and restaurant®.

It is >»oped thn+. the fund will total two million pounds.