MONEY FOR PUBLIC WORKS

North Otago Times, Volume C, Issue 13170, 7 October 1914, Page 3

MONEY FOR PUBLIC WORKS

ME, MASSBY OPTIMISTIC. WIiIJUNOTON, Oct. 5. Speaking on the Hangitaiki Laud Prainago Bill in the llou.so oi' Representatives this evening, under which Bill it is proposed*-!* borrow £30,00!) fur the improvement of certain swamp lands in tho vicinity of Waiki, Mr 0. W, Russell asked the Prime Minister if lie -saw his opportunity of carrying through the loans which were proposed in connection with this measure and the Jlauraki Plains Bill. Mr Russell said that he imagined that bollu these Pills Here brought on before the war ( and, while not wishing to sec the works slopped, he wondered if, looking at the position all round the world, the Government would be able to carry on the borrowing for suck works to the extent originally contemplated. Mr Russell went on to express the opinion that money might be wanted for more urgent works"than Hie Rangilaiki drainage operations. Ho said, also, that he would like to hear, during the next few days, about tho business of.tho Post Ollicc Savings Bank for the last quarter. •

Tho iron. IJ. Ilcalon Rhodes: I can 101 l you now. Mr Busscll said that if the return disclosed a condition of attain in which tK(! deposits exceeded the withdra.vals, lie, would reckon that, condition an exceedingly satisfactory one, lie had hoard reports 'to the effect that the Government, hail ken withdrawing money from Hie Government Life. Insurant account ami the Public Trust Ollico account for.a certain purpose, Tho Prime Minister said he could assure tho Member for Avon that, as far as linance was concerned, the Governiuent did not expect to encounter any ditliculty in raising money for th'i pi.iposes outlined in the Bills, or for 'similar works in other parts of New Zealand, lie said llml he was not uwaio of any money having been borrowed from the Life Insurance Department. Some money had been borrowed:, from the Public Trust Ollico, but it ; had come about in this way: The Department had sold a minibor of land ; ! settlement debentures in London, and' that money had been lying idle, mid! the Government wanted the uioiicyV "We are prepared to repay it if theyi roijuirc U for tlie settlers," added Jin JliiHsey. "Wo arc quite prepared toM let then! liave.it; we don't want to iir-'l lerfcro with development," j Tho I'riino Minister then stated that; he thought tlnit the Government would! be able to carry on the public works right through the war, as in tho past,.j It would, ho remarked,, bo they could not, lie thought ho "was! justified in ■saying that they had inure! men employed just now than in tlie' past. • • ■-;