PROPOSED LEGISLATION.

Lyttelton Times, Volume XCIV, Issue 10706, 16 July 1895, Page 5

PROPOSED LEGISLATION.

£Pbb Press Association.] WELLINGTON, July 15. The Council of the Wellington Chamber of Commerce has had under consideration a number of Bills now before the Legislature, and has expressed its opinions upon them in a circular as follows(1) Local Bodies Loans Conversion and Wellington Corporation Loans Conversion The Council is of opinion that inasmuch as there is no provision for a further appeal to the ratepayers in the event of any issue, or proposed issue, of new bonds, limits should be assigned by the Bill (a) to the amount of premium which may be paid by the local authority as consideration for conversion, and (b) to the amount of discount which may be allowed by the local authority on the issue of apy new bonds. The Council would point out that, if the local authority issued three per cent bonds it would be empowered under the Bill to sell each £IOO bond for £66 18s 4d, and pay any sum it pleased as premium for the redemption of outstanding bonds, so that the power given to the local authority to increase the permanent debt is unlimited. (2) Public Tenders, Contracts and Works—The Council considers this Bill unnecessary, unworkable, open to fraud, and againpt the interests of the community. (3) Poisons, Importation and Carriage—The Council approves generally of this Bill, and hopes that it will become law. It desires, however, to suggest that it should be further provided that all wholesale stocks on hand on June 30 should be painted with red lead as is provided by the Bill in regard to future importations. (4) Shipping and Seamen —The Council desires to point out that this Bill would place New Zealand shippers at a great disadvantage when brought into competition, as is frequently the base, with vessels owned in Australia. (5) Debts Becovery Limitation—The Council considers this Bill unnecessary and against the interests of the community. ' ''