PARLIAMENT.

Opunake Times, Volume III, Issue 119, 23 August 1895, Page 2

PARLIAMENT.

LEGISLATIVE COUNCIL. Wellington, Tuesday. THE BANK COMMITTEE. The recommendation of the Bank Committee, tint its deliberations be secret, was adapted, and the Committee was enlarged by the addition of the names of Messrs Ormond, Jennings and Walker. HOUSE of REPRESENTATIVES. Wellington, Tuesday. BANK OF NEW ZEALAND. Mr Buchanan brought up the interim report of the Joint Select Committee on the Bank of New Zealand, to the effect that the Committee should be a Secret Committee. He moved that the report be adopted. Mr Newman wanted to know whether the House was to have any information at all with regard to the deliberations of this Committee. Mr Seddon also moved that the Select Committee be enlarged by the addition of the names of Messrs Pinkerton, Fraser, and Millar. He said the Joint Committee was unanimous in its recommendation, that the Committee should be made secret. The presence of the public at meetings of the Committee practically meant the presence of the Press. When the Committee brought down their report they would probably bring down enough evidence with it to warrant their finding. It was impossible at the present stage to say exactly what information the Committee would bring down to the House. Under the circumstances, it was desirable that the investigations of the Committee should be conducted in secret. From the tone of the debate on Friday, he took it there was a general desire that the Committee should be secret. Some members had expressed their views so strongly, and with so much bias the other night, that he could not agree to have them on the Committee. He objected to anyone going on the Committee who was biased. This charge could not be brought against any of his three nominees, and it was devoid of truth to say that the selection of any of them was influenced by the'* Colonial Bank.

Mr Thomas McKenzie said the gentlemen proposed were not the best qualified in the House to grapple with a great financial problem. Mr J. Smith admitted the right of labor representatives to be on the Committee, but he asked where the commercial representatives were. After considerable discussion, Mr G. W. Russell asked whether the question of amalgamation between the Bank of New Zealand and the Colonial Bank was to be considered by the Committee.

Mr Seddon said the Government had kept entirely clear of the amalgamation question in connection with this Committee, and he strongly deprecated members drawing this red herring across the scent. He would tell the House distinctly that he was opposed to amalgamation. The Committee had only to consider the relations of the Assets Company with the Bank of New Zealand.

Mr J. W. Kelly moved that Mr Millar’s name be struck out, with a view of substituting the name of Mr Robert Thomson.

After further debate, Mr Kelly’s amendment was lost by 28 to 24, and Mr Miliar’s name was retained on the Committee. The Hon Mr Seddon’s motion to add to the Committee was then put and carried by 29 to 25. Mr Buchanan’s, motion,making the Committee secret, with the addition of the three members proposed by Mr Seddon, was then agreed to on the voices. FINANCIAL DEBATE. Mr J. W. Kelly resumed the Financial debate. He warmly praised Mr Cadman’s management of the railways. He strongly deprecated the increase of salaries in the Public Service at the present juncture, and would vote against both the Canadian and South Australian treaties and the Vancouver mail service.

Mr Earnshaw declared the tariff proposals of the Government were opposed to the expectations and desires of the country. He quite agreed as to the excellence of Mr Cadman’s administration of the railways, and said that hop gentleman was really the only administrator on the Treasury Benches. He expressed his regret that the Government had failed to meet the unemployed difficulty with any degree of success. Mr Collins applauded the Government for their honest attempts to solve the unemployed difficulty. It was not to be wondered at that with such a large expenditure in providing work for the unemployed there should be a small increase in the public debt. My Cadman said an objection had been taken to increases in the salaries in the Public Service, but he pointed out that many of these were due to the amalgamation of offices. He challenged those hon members who objected to increases to stand up in the House and move that no increases be granted for the year. He was prepared to justify every penny he had expended in the administration of the Mines Department. The money had been expended fairly, and he could tell the House that the vote in aid of prospecting had been over-run fully one hundred per cent. The Government had shown originality in their administration, and had not been content to follow the old precedents. He pointed out where the alteration had been made in the administration of railways ; as to the charge that he was too slow in affect : ing changes, all that he could say was if the House would supply the money he would soqn altsp that, The reduction of general excursion rates was having such an affect that he ' doubted whether they would have sufficient rolling stock to carry every one. The Opposition members, wjjQ so freely criticised the Government,' would not dare go to the country and propose to

reverse their policy of taxation, or any of their great items of policy. Mr Ward replied at 10 o’clock, and referred to the great task before him in having to reply to 56 speeches in the brief space of one hour. The debate had shown there was avast difference of opinion on both sides of the House, in regard to certain subjects in the Budget, but this he regarded as a healthy sign. With regard to the clamour of some hon members for the elimination of either term, gross or net* public debt, he pointed out the two ternis were set out in the Budget of the Imperial Parliament, and in alt other countries. There was no intern tion to mislead in using the two terms’ and hon members who made this charge either wished to mislead themselves, or did not know what they were talking about. From the way in which some hon members talked about the issue of Treasury Bills by the colony, it might be thought the Government was doing something unusal, but he pointed to the fact that last year the British Exchequer issued £31,446,000 of Treasury Bills. This should be sufficient answer to those who claimed this colony was acting out of the ordinary channel. It was only fair that the released Sinking Funds should go to make up a surplus when these funds were taken out of the Consolidated Revenue and the money had to be sent Home monthly to meet the interest on them. Mr Buthie had laid great stress on the use of these released Sinking Funds, but he had not stated both sides of the question, and he (Mr Ward) challenged him to deny the accuracy of the statement he had just made. When the amount of the land tax was fixed he failed to see where there could be any objection to fixing the date for the collection of the tax. Defamatory statements have been spread broadcast by hon members to the opposite, regarding the date of the collection of this tax, but he pointed out a sum of £600,000 had to be met annually in October for interest, and no objection could be taken to fixing a date for collection. With regard to the comments on the working of Advances to Settlers’ Act, he said it was remarkable that it was the hon members who had opposed the Act at every stage through Parliament that were now bitterly condemming the working of the Act. It had been contended that the Act had not brought in its own rates of interest in the colony, but he showed that this was exactly what had been done, and in this respect alone it had done great work. This Depart* could no more be abolished than the Postal Department. Hon members opposite had declared that the Government could not get money at 8£ or even 4 per cent, and yet they had successfully raised a loan at 8 per cent. This showed the judgment of the Opposition had been greatly at sea. The £150,000 of consols were given to the Bank of New Zealand only on condition that if the public wanted them they were to have them. Any bank in the Colony would be glad to get such an investment for its coin reserve, and the Government was justified in getting the money at a low rate of interest. In a brief reference to the tariff, Mr Ward said the Government had based the whole of their proposals on the 1894 Canadian Tariff. Sir Robert Stout was ungenerous in trying to make capital out of a mistake, but that mistake did not affect the principle. The Government could not arrange for an interchange of other articles in place of fruit and timber, and the excision of these two articles would not affect the treaty. The motion that the House go into Committee of Supply was carried on the voices.