PARLIAMENT

Nelson Evening Mail, Volume LXVI, 10 February 1933, Page 7

PARLIAMENT

YESTERDAY'S PROCEEDINGS LEGISLATIVE COUNCIL (From “The Mail’s” Parliamentary Reporter) WELLINGTON. 9tli February. The Legislative Council met at 2.30 p.m. Continuing the debate on the Bants Indemnity (Exchange) Bill, the Hon. M. Fagan said that the measure was the most serious which had been placed before Parliament since the depression began. Everyone realised .that the farming industry was the foundation industry of the Dominion, and it was expected that it would receive help from the Government, but few anticipate! that the exchange would be raised. .Mr Fagan said that the farmer had already been assisted to the extent . f £5,000,000, and no one questioned this expenditure, but it was anticipated that the rise in the exchange would give the exporting farmers between £10,000,000 and £12,000,000. This was a lot of money to give 56,000 exporting farmers. The position of Australia was not analogous with that of New Zealand, because the Australian exchange ha 1 been forced up by her adverse trade and financial position. Australia had made efforts to peg the exchange down rather than let it soar, but New Zealand’s had been one of deliberate depreciation of currency. Under the Bill there was no provision fo" a sliding scale to bring down the exchange as the prices for primary products commenced to rise Such a provision should be inserted in the Bill in order that the liability of the people would decrease in proportion to the rise in prices. The arch-plotter in the whole affair seemed to have been the Bank of New South Wales. No new money would come into the country as the result of the high exchange, but the Government’s policy simply meant that the exchange premium would be paid bv one section of the community to another.

The Hon. W. W. Snodgrass said a spirit of reasonableness and co-operation was needed at the present time. If the exchange had been raised before the wage reductions it might not have been necessary to apply the cuts as there would have been more money in circulation. The Hon. C. J. Carrington said it would be very unwise for the Council not to pass the Bill as the Government was setting up a defence against national disaster. Cabinet had acted m an intelligent manner without regard to its popularity. The towns people should remember that they could not have a return to prosperity until the primary industry was again paying its way. Even though the Government had curtailed expenditure it would have to carry out further economies as the gap between revenue and expenditure was too wide. He considered the Government should consider reducing the salaries ot some of the higher-paid civil servants and also investigate the position ot the superannuation payments. The Council adjourned at 4.20 p.m. until to-morrow.

HOUSE OF REPRESENTATIVES The House of Representatives met at 2.30 p.m. to-day. . Mr W. E. Barnard (Labour, Name”) asked the Minister of Finance whether it was correct that wool brokers were collaborating to force down wool prices; if it were correct, what steps would be taken to prevent the benefit arising from the exchange being filched from growers. . * The Minister of Finance (the Right Hon. J. G. Coates) said inquiries had been made, and there was no reason to believe that wool prices had been prejudiced as suggested. Presumably, Hie reference to brokers was intended to refer to buyers. There was no evidence of collusion among competitive buyers.

The Statute Revisions Committee recommended that the Gaming Amendment Bill he not proceeded with. The Chairman of the Committee, Mr W. J. Broadfoot, said that the evidence adduced showed that betting was rampant, and that the present law was tending to force it underground. It was claimed that the licensing of bookmakers would bring in half a million pounds to the Government. He thought that experience hau shown that since Parliament had legislated in 1911 for eliminating the wiring of money to the totalisator and prohibiting the publication of dividends, the law as far as betting was concerned had been flagrantly broken. He thought that the evidence which .had been given would show that there was indeed a cancerous growth.in the social fabric. “The time has arrived when we should take the gloves off and face up to the situation.” The existing facilities of the totalisator should be used for the wiring of money, the publication of dividends should be permitted, and the double totalisator should be allowed. The most practical way to eliminate the bookmaker was to direct gambling and to cater for t" ,,> small silver bettor by the establishment of a State lottery. Mr Broadfoot suggested that the time was ripe when Cabinet should take action in the matter.