HOUSE OF REPRESENTATIVES.

Rangitikei Advocate and Manawatu Argus, Volume XXXVII, Issue 10742, 5 September 1913, Page 5

HOUSE OF REPRESENTATIVES.

Mr Myers moved the third reading of the Commercial Bank of Australia Limited, Bill. Mr Buddo welcomed the advent of mother banking institution in New Zealand. He thought that it would be a great benefit to farmers and traders who would be largely assisted by the increased banking facilities. Mr Ell said the advent of the Bank was not going to help matters in the least. Did anyone suppose that there was going to be any competition amongst the banks? There was not the least chance of it Kates of interest and all other charges would be the same because there was a combination amongst all big financial institutions Our banking system was obsolete, and it was time Idle State took up the question ofcurrency and declared its bank notes legal tender.

Sir Joseph Ward said it had been predicted that the price of wool would fall, but be did not believe it A man who had a few hundred acres and ran sheep was on the best wicket in the world. He had time and again looked into the matter of a State note issue, but be had some doubt as to the wisdom of adopting such a course as had been done in Australia. He thought it was practically impossible to establish a State Bank in this country. This country should establish a system of Agricultural Banks. It must he concomitant to the puting of people on the land. Mr Myers said in regard to the note issue of the banks operating in the Dominion, it was £1,714,159, and they held gold bullion, metals, etc , to the value of £5,016,557. The Bill was read a third time after Mr Payne had called for a division, which lapsed owing to his inability to secure a teller.. Mr Heaton Rhodes stated in reply to a question that Waikato was clear of smallpox excepting for four convaleseuts. The Wellington City Empowering Bill passed through Committee without discussion. The House resumed at 7.30 Mr Macdonald moved the second reading of the Gisborne Harbour Board v Empowering Bill. The Bill was read a second time. Mr Yeitoh moved the second reading of the Wanganni Harbour District and Empowerng Bill The Timaru Harbour Board Empowerng Bill, Westport Public Parks Vesting Bill, and Springs County Council Reclamation and Empowering Bill, were read a second time, and the Bank of New Zealand. Bill was read a second time pro forma, and referred to the Public Accounts Committee The Premier moved the second reading of the Irrigation and Water Supply Bill providing for the appro priatiou of £IOO,OOO for irrigation Central Otago The Bill was read a second time Mr Massey moved the second reading of the Land Drainage Amendment Bill, the chief provisions of which are to allow Drainage Boards to borrow up to three halfpence in the pound so as to enable them to he put on a proper financial footing, also to provide facilities for enabling Boards to alter the boundaries of a district so as to bring into rateable area lands which derive benefit from the operations of the Board but wonld otherwise not be rateable The Bill was read a second time The Auckland Weekly Half Holiday Bill was read a second time pro forma, and the House adjourned at 13 30