FINANCIAL TRANSACTIONS.

Poverty Bay Herald, Volume XXXI, Issue 10163, 24 September 1904, Page 2

FINANCIAL TRANSACTIONS.

FURTHER LOANS OR RENEWALS.

DEBATE IN THE HOUSE.

(From our Parliamentary Reporter.) WELLINGTON, this day.' Opportunity Avas taken of the introduction of an Imprest Supply Bill last evening by Mr Massey to again refer to the following press cable message which appeared m last Saturday's newspapers : "Sew Zealand has placed £320,000 4 per cents., with a currency of five years, and) £85,000 and £99,000 at par." Complaint was made by the leader of the Opposition tliat while -the Premier had told the House that he knew nothing of. tlie matter, and that he liad given no instructions to place any such loan, lie had subsequently told a press interviewer that the loan agents had) authority to place on the London market the balance of last year's million loan, and were probably taking advantage of that authority. Was Mr Seddon concealing from the House information he liad/ m his possession, and which he had given to a member of the press? Neither the House nor. the country, said Mr Massey, were satisfied with, the mystery connected with the financial operations of the Government.

The Premier said he had nothing to add to .what he had' stated to the House ou Wednesday, and he refused positively, to bo called on to explain or refute the paragraphs appearing m the newspapers regarding the. coronas financial transac- • tions. Bringing such matters up on the floor of the House was calculated, to injure the colony's credit. He had stated that to 'his mind what was referred to m the cable had nothing to do with: the colony's loans. . Mr Massey : You. did -not say so irt the House. The Premier said that if tlie hon. member did not know the difference between loans and renewals it was not his (Mr Seddon's) fault. The message probably referred to renewals, and not to a loan or the- floating' -of a loan. Mr Massey said the Premier was report-! Ed to liave stated to an interviewer that the loan agents liad authority to place - the balance of the million loan- of last year on the London market when it was favorable. s The Premier stated tliat so far as instructions to the Agent-General went tltay were given months ago. Considerable diebate followed as to impressions conveyed to readers of the London Times by its New Zealand correspondent. .-,.».. Sir Joseph Ward stated that' Saturday* cable undoubtedly referred to renewals of short-dated 1 debentures and not to ai loan transaction.