PARLIAMENTARY HEAT.

Poverty Bay Herald, Volume XXXVIII, Issue 12587, 18 October 1911, Page 2

PARLIAMENTARY HEAT.

DOMINION'S CREDiLT

SIR JOSEPH WARD ANGRY. (From our Parliamentary Reporter.) WELLINGTON, this day. Proceedings of the House of Representatives yesterday afternoon was cnaracterised by an encounter between Sir Joseph Ward and Mr J. Allen, which lasted for over an hour, and was remarkable for the warmth displayed on both sides. Sir Joseph Ward tabled a return giving details of the public debt, and m doing so said he proposed to ask the House to pass a Bill providing thin the reserve fund under the State Guaranteed Advances Act shall be deemed to bo sinking fnnds. Some of the most qualified men m New Zealand, he said, agreed with htm m the contention that those funds were not really sinking funds, biit should be shown .as an' internal reserve fund. Mr J. Allen contended that the return showed that the table m. , the Budget giving details of the sinking-funds was wrong by about two millions. Sir Joseph Ward again Arid again denied that/ that ,waa true, and Mr Allen's remarks ohfthe' same" lilies were punctuated, -with .the^- corrective denials from the head ot the" '' Government.-' ';• When his turn came to speak, Sir Joseph;^. JV'ard, speaking with i evident heat, contended that Mr r All.eJi had deliberately ignored the requirements of ; the State Guaranteed; ; Advances. A ct.ih regard to sinking funds, which under the Act had'to-be- dealt :yrith.>a_jai^-,frpi]ri. |.h6>puljliG: debt, ; for the purpose, of con-" sveyi.ng an, 1 impression that a mistake had been niade m the Budget^ His desire was ; to. save- the cqui\try -from' the .results of the mendacity of"the ; hom-ge'ntleman. Mr J. Allen: The hon^ gentleman has used the word mendacity; ,Is that m order? ' , Sir Joseph Ward: '"'l withdraw the word., I will say the outrageous indifference 6f the responsibility, devolving upon the hon. member as a representative of the people m endeavoring- to_ convey an impression m England that we are piling up our. public debt, and call : ing attention to the fact-'ihat it is so .without making any at-., *lowarice'if'6r>irivestments. -' For that rea-' son (cdritiniied the Premier) he had pre-pared-a retl|r^ getting loaps and the'assets against them, |n- order to preserve the jjotihtry, against the attacks ,pf the hon;, -who had 'the hard}-; hood to stand up in'^iis place and de- : clare that -in giving effect to the require-' ments of the State -Guaranteed Advances Act. he had made -a mistake./ -He liad. jnade .no nli&take. ' , The hon. meniber! for Brace ~was always casting a reflection' on the financial position of the country^ and m asking for the return supplied he believed that Mr,. Allen was actuated. .,py a desire to: d 6. harm to the. country , and had with that object as^ed for the dates of every debenture falling due this year.; He.u ndertook to say that there were' hundred^ 1 o^cqpies of that return; posted to English financial houses,, which would , use. them to press dovvn; ; the ; rate* of " re- ; newai. That; was wh,at^ the. member for Bruce ; had 'done,-.. and* for the japt three or four years the Oppos'tion .had been decrying the financial; st.i.;ility of the country, and at the time of the depression, their jourtaal m . Wellington sent l'ound reporters to tiy and get business men , to confirm* their statement tHat the bottom had dropped out of the country. Mr 'Buchanan- : I . deny ; that absolutely.; Sir J. Ward : The hon. member may. deny what he. 'likes. I don't doubt your word, but r I know what occurred. Mr Buchanan: It did ribk occur m my case. - . • ; ' , . •,;.%,; •

Sir J. Ward ': T^id not .say anything about your case. ' • Buchanan : You' did; "-; '. " . ■ iSir f Joseph Ward : I did nothing of> the kind.: You are not going to put me down or bully me. Mr -Buchanan: You won't put me down. . f . . ; . . Sir J. Ward : You haven't got up. (Laughter. )., As a matter .of. iact, A . he •addend,, the Opposition had ,' been' tryjjnig j to get into power by attacking the- firiijiri-, eial position, of the Lilieral Governmeni. They 'had been dohig it for years. j "Rubbish !" ejaculated an. Opposition i member,, as the Prime Minister continued m the same strain. " - "Is that Parliamentary?" • asked Sir, J. . Ward. -' Vi /.■■:■; ■•.■.;.■ - : - ; ; : s ■■'!.-. ';■■; ■■:'' •> ■_ "Yes 1 , ir^has been allowed^ 1 ; said Mr' Speaker. 5. ..-.;'.. . . r "All; ri^ht," retorted Sir j. Ward. "It's rubbish, m fi-ont, and it's rubbish-, behind, and' it's rubbish all the time." Retorting to Opposition laughter, he declai'ed that" when the Opposition met they arranged that if one of the other side said anything, the rest should ,<?iy-e; an ..empty laugh, "Well,", he- adde'i,. "there were ,things outside this Bouse' with four legs and a pair bf ears that are addicjked to the same sort of thingi!' (Renewed 'lauorhter.) . The discussipni for. quite a time on these lines, Mr Allen declaring finally that he Md always^itrj^d •,t»'. v wj?"-. hold the predit of the^ DomiiiiQn, and! Sir Jpsepii \Ward declaring that m spite of Opposition criticism the 1 Dominion had never an^, difficulty m( floating its loans. _,; t ; . \<\l ;;' ". .'