PARLIAMENT.

New Zealand Herald, Volume XLI, Issue 12698, 29 October 1904, Page 6

PARLIAMENT.

; [by TEIEGBAPH.—FBESB ASSOCIATION.] • LEGISLATIVE COUNCIL. '.-.".' Friday. . The Council met at half-past two p.m. BILLS PASSED. The Waipoii Falls Electrical Power Bill, the Mining Act Amendment Bill, and the Destitute Persons Act Amendment Bill were read a third time and passed. The following Bills were put through their final stages without material amendment ;Native Land Duty Abolition, Carrington Compensation Award Satisfaction, ■Weights and Measures Amendment, and Midwives. FERTILISERS BILL. The Fertilisers Bill.was committed. ■ Clause 10, providing that the purchaser of' a fertilise! may require an analysis, was postponed. Mr. LEE SMITH 4 moved to amend the clause giving power to the Secretary for Agriculture to publish an analysis in such manner as he thinks fit, so that the analysis should be published only in the Gazette. This "was lost, and progress was reported. HOUSE OF REPRESENTATIVES. Friday. RAILWAYS AUTHORISATION BILL.

After the telegraph office closed the debate on the second reading of the Railways Authorisation Bill was carried on until twenty-five • minutes to three a.m., when Mr. Massey's amendment was rejected by 41 to 20, and the second reading was carried by 37 to 14. . . ■ ;: . " A Governors Message was then .received, malting an alteration in the schedule regarding the extension of the Midland railway from Tadmor. The message increased the mileage of the section from 10£ to 22 miles, Mr. MASSEY strongly objected to a Governor's Message being brought down after the second reading had been carried on the assumption that the Tadmor section would only amount to,lo£ miles. It was one of shabbiest find most scandalous tricks that had ever been played upon members of the House. The PREMIER said the -explanation was that a new and better route had been, proposed, and the length was no greater than. the'length previously authorised for the extension. After a lengthy, discussion, the Governor's Message was withdrawn by 35 to 12, oh the motion of the Premier, who. said the message had been brought down- under a misapprehension. The Government, however, would, take another opportunity of providing for the line. . .- „ . . .-. After further lengthy discussion, the Bill passed through committee without amendment, and eventually passed its final stages .by' 37 votes to 8. '■-.:■

The House rose at half-past five a.m. The House met at half-past two p.m. , RAILWAY SERVANTS' SUPERANNUA-

TION BILL. The Railway Servants' Superannuation Act Amendment Bill was brought down by Governor's Message. The Bill was read a first time. BUSINESS TO BE GONE ON WITH. The PREMIER "said he would be quite prepared to give th House a reasonable opportunity oj considering local Bills. > As, to general business, he'eaid the House had about 20 Bills to deal with. He was going on with the High Commissioners Bill.. The Land for Settlement Act Amendment Bill only contained a few clauses, and the House ought to be able to close on Saturday week. The Government would work to that end, and if members assisted him they might .get away earlier. , , ; THE LOAN BILL. The PREMIER,, in. moving the second reading of the Aid to Public Works and Land Settlement Bill, said the proposed' loan of £750,000 was a movement in the direction of reducing the amount of our borrowing, which, he thought, would be Appreciated. : He contended, however, that the colony had assets as the result;of the .expenditure .of previous - loans, which more than covered the liability, but until the impression -which had been created was removed we should not rash into any huge expenditure. This was the smallest amount they could do with. There had been a great difficulty in economising, and it was a thankless task, which would result in considerable heart-burning. There had, however, been no partiality in the allocation of the money, and there was a larger allocation for roads out of the £750,000 than had been made out of the previous loan of a million, and a-quarter. /', In the present condition of the money market it was wise to reduce the amount to be spent on public works. There were other difficulties in the way, and he asked members not to say . anything which might militate against the credit of the colony. There was about a million in the Public Wcres Fund, and the Government expected to spend a million and a-quarter on public works during the current year, compared with £1,600,000 last year. Mr. MASSEY said that this £750,000 did not. by any means represent the total borrowing proposals of the Government, and he. believed that if the money could be obtained the indebtedness of thcvcolony would by the end of the year have been increased by a million and a-half. Besides, under the New Zealand Loans Bill, which had been brought in, the net amount of the proposed loan could be raised, so chat, the £750,000 would be £800,000, or over, as'.the-cost of raising the loan, would ahso be added to the total amount "to be borrowed* He went en to complain that there was no clause in I'the Bill limiting the. price at- which; the i Colonial Treasurer could sell his debentures. | As to public works .expenditure, he con-., tended that an endeavour : should be made to reduce expenditure in-every 1 other direction, - so that public works might be carried on. He believed that the Consolidated Estimates could be cut down by £750,000. The £30,000 for tho South African service could be done without. The Defence Department and the Agricultural Department" Estimates could each be reduced by £15,000, and tourists and 'miscellaneous could also be reduced by the same amount. Mr. Massey contended" that there should be a sinking fund in connection with loans. With regard to the matter of short-dated debentures the Government would, apart from the amount taken up by Departments, have next year to meet £857',400 of short-dated debentures. The banking returns showed that the public were getting remarkablyshort of cash, and that the Government had mopped up all available money. The increase in deposits had dropped considerably, and for this and the tightness of money and the low market rate of stock, the Government were responsible. If money was raised in the colony at 4 or 4£ per. cent, it would have a detrimental effect.

Sir J. WARD urged that nobody could complain of borrowing for the purchase of lands for settlement. Of the £750,000 which the Government proposed to borrow fi large proportion was for such reproductive works as duplication of railway lines.

Mi-. HARDING said he intended to vote against the Bill. It was altogether wrong to aek the House to authorise a loan without details being given as to how the money was to be spent.

The PREMIER, in reply, referred to the North Island Main Trunk line. He said he had no recollection of the Minister for Public Works having promised to have it completed within a given time. This was the only Government which had ever carried out the construction of that line in a serious manner. As to our loans, he said itwas the intention of the colony to repay them, and the colony was well able to do so. The second reading was carried by 60 votes to six, the six- being Messrs. Fowlds, Harding, McLachkn, Tanner, Taylor and Sir W. Russell. LOAN BILL IN COMMITTEE. " In committee on the Aid to Public Works and Laud Settlement Bill, Mr. MASSEY complained that there was no clause in the Bill limiting the rate of interest at, which debentures could be disposed of. The PREMIER said the maximum irate of interest was fixed at 4A per \»nt. " '- ■■ . Mr. MASSEY: That's the loan. You could dispose of the debentures at six per cent. The Bill was put through its final stages,