PUBLIC WORKS LOAN BILL

Otago Witness, Issue 3574, 12 September 1922, Page 7

PUBLIC WORKS LOAN BILL

AUTHORITY FOR FOUR MILLIONS. MONEY NOT WANTED IMMEDIATELY. (From Ocr Own Correspondent.) WELLINGTON, September 5. The usual Public Works Loan Bill was introduced in the House of Representatives ancl read a first, time thi«? evening. Mr Massey, when asked for information as to the contents of the Bill, said he. did not want to give anyone the impression that he proposed going on the London market at the present moment, or in the near future. He had no such intention. Hon. members, however, would understand that it might be necessary, probably it would be necessary, to go to London for more loan money during the recess. This was more necessary than if the House met at the ordinary date in June.. The amount, which it was proposed to borrow was limited to four millions. It might actually be less than that. He hoped it would bo, but he was asking for authority to get four millions. It was the ordinary Bill to provide money for Public \\ orks, such as hydroelectric, railway, and other works. At the present moment he was not prepared to say when it would be necessary to ask for more money. He did not expect that it would be neoes&ary during the present year, but it might l>e necessary before March 31 next, although he hoped it would not. He should like to think that we should he able to do without any loan money till