PARLIAMENT.

Mataura Ensign, Issue 166, 23 July 1896, Page 2

PARLIAMENT.

HOUSE OF REPRESENTATIVES. - , Tuesday, July 21. Mr Seddon gave notice to introduce 8 Censtitution Act Amendment Bill, and sa id he would at the same time move to with draw the Legislative Counoil Act Amendment Bill at present on the Order Paper. In reply to Mr Steward, who asked •.vhfither the Government Life Insurance Department could not reduoe its rate of interest ' upon advances on policies to -5 per cent, whioh was . the amount charged by the A.M.P. Society, Mr Seddon said the, matter would have the careful consideration of tlie Department. Hi pointed out, however, that the A.M.P. Society, had not made by auy meaus the reduction mentioned by the hoa. gentleman, as the rate of interest had been brought down by the Advances to Settlers Act. It was only right that the Insurance .Department should fall into line with the reduction, and he would Bee what could be done. Replying to Mr Millar, who asked for ths establishment of a mint, Mr Seddon said that when the Government received the necessary authority from Parliament ho would bo prepared to carry a proposal into effect. To have a mint in the colony would establish a very costly department. Tho time might come when, it would be necessary to establish a mint^ and when the time arrives the matter would be taken into consideration. The House then adjourned, on the Premier's motion, till 7.30, as a mark of respect to the memory of the late Hon. R. Pharazyn. On resuming in the eveniog, Captain Russell opened the debate on the Financial Statement. Mr Hall-Jones said it was amusing to hear the hon. gentleman refer to the' virtues of a non-borrowing policy. He had only to cast his mind back a fow years to the time when he was identified with Governments whioh had borrowed extensively, and Capt. Russell had himself on. one occasion advocated a loan of 20 millions. He contended that the Government w«re .still a non-borrowing Government, and in reply to what Captain Russell had said about the increase in the National debt he pointed out that the interest paid in 1891 was £1,874,575,' while in the present year it was £1,720,573. Particulars laid on the table of the House showed that the Advances' to Settlers Department was paying its way, and that a surplus of £5000 per annum was derived from the investment of its funds. In reckoning the increase in the National debt allowance should be ' made for the sum of £500,000, which had been paid to the Bank of New Zealand, and was guaranteed by the bank. Captain Russell had a perfect right as leader of the Opposition to criticises the Budget, but he should avoid mis-statements. Mr Allen said that Mr Hall-Jones, when he had changed his seat, had also changed his opinions, and was guilty '^Fthose inaccuracies of which the Opposition were always being accused. As to railway finance he contended that the expenditure lest year was almost the same as that of the previous year, while the revenue showed a falling off of £6000. He thodght . the Opposition rightly claimed that of the increased Customs revenue £58,000 was due to increased taxation. He oombated the assertion that the Advances to Settlers Department was paying, and said the Government had had to admit in blaok and white that the operations of that department this year showed a loss of £31,000. Wednesday, July 22. The Constitution Act Amendment Bill was read a first time, and the Legislative Counoil Act Amendment Bill was discharged from the Order Paper. The Banking Committee was granted 21 days extension of time in which to report. Mr Buddo resumed the debate on the Finanoial Statement, and he being tho only speaker, the Treasurer replied. The House then went into Committee of Supply for the consideration of the Estimates. The second readings of the Property Law Amendment Bill, Photographic Copyright Bill and River Boards Amendment Bill were agreed to. The School Committees Election Aot was thrown out, and the Truck Act Amendment Bill committed.