PARLIAMENT.

Southland Times, Issue 13030, 3 October 1894, Page 3

PARLIAMENT.

(By Telegraph.) LEGISLATIVE COUNCIL. Wellington, Oct. 2. The Council met at 2.30 p.m. The Lands for Settlement Bill passed its final stages. The Rating Bill was further considered in committee and reported with unimportant amendments. Sir P. Buckley moved the second reading of the Consols Bill. Mr Bowen opposed the bill, which he considered would not encourage thrift among colonists. He thought it better that the people should invest their own money in the land of the colony rather than leaving it for the Government to invest for them. Regarding the measure as novel and dangerous legislation he moved as an amendment that it be read a second time that day six months. Mr Rigg supported the bill, urging that it would be as well for the people to invest in consols as to place their earnings in a savings bank. Mr Pharazyn viewed the bill as merely a borrowing measure under another name, and therefore should support the amendment. Sir Geo. Whitmore, although not satisfied with the bill, would give it a trial. Mr Downie Stewart opposed the measure as being an attempt on the part of the Government to borrow money in an objectionable manner. He knew the Dunedin working people were opposed to the bill, and so he believed were a majority of the people of the colony. Mr Stevens opposed the bill, partly because it was absurd to suppose that the working classes somewhere or other had vast hoards of wealth laid up, which they were anxious to lend to the Government at .31 per cent. This bill and the cheap money bill were utterly inexcusable. Mr MacGregor also opposed the bill, principally on the grounds that it was simply a borrowing measure in disguise. It was not a bill for the encouragement of thrift, as the loans were open not to colonists but to the entire world. He also objected to the measure because the Government neglected to say to what purpose the loan would be devoted. The debate was adjourned till next day, and the Council rose at 5 p.m. HOUSE OF REPRESENTATIVES. The House met at 2.30 p.m. Mr Ward gave notice to introduce a few new bills, including the Government Life Insurance Act Amendment Bill and Sea Fisheries Bill. Mr Seddon laid the Mines Statement on the table. In reply to Mr Larnach, as to whether it was the intention of the Bank of New Zealand to continue the risk of carrying on business in Australia and. other places outside of the colony, Mr Ward said he hoped, within the next few days, to announce the appointment of the president of the bank, and the Government could scarcely deal with such an important matter as that contained in Mr Larnach’s question until they had information that that officer would be in a position to obtain. In reply to Mr Larnach, as to whether, in the interest of the colony, early action will be taken to insist upon a separation of the Estates Company from the Bank of New Zealand, Mr Ward said the Government were of opinion that a separation should be effected, but the question was one upon which they must await the guidance of the new president. In reply to Mr Larnach, as to whether steps will be taken to ascertain to what extent, if any, the New Zealand Loan and Mercantile Agency Company is concerned in its financial relations with the Bank of New Zealand, Mr Ward said this was a matter which in the ordinary course of business could not fairly be published, but the president would be in a position to inquire into the matter. The Government had no information as to whether either the company or the bank was indebted to the other. He added that the president would be required to devote his exclusive attention to the bank. His duties would be of a controlling character and safeguarding the interests of the colony. In reply to a question by Mr O’Regan with regard to the duties of the president of the bank, Mr Ward said that officer would be expected to conserve the interests both of the colony and the bank and see that no improper business was undertaken. It would not be his duty to report to the Government on transactions between the bank and private individuals, but to exercise a general supervision over the affairs of the bank so that if any improper business was being done it would be reported to the Colonial Treasurer. In reply to Mr Bell Mr Ward said the Government could not see their- way to take charge of the Guaranteed Banks Amalgamation Prohibition Bill introduced by the member for Wellington citv. The Government were of opinion that under proper safeguards amalgamation would have been Utisfactory and would still be so. In reply to Mr Geo. Hutchison Mr Ward said that a short time ago the Colonial Bank had applied for a share of the Government account. The matter was not then decided and was still under consideration. In reply to Dr Newman, Mr Ward said the two millions guaranteed to the Bank of New Zealand would not be raised till the 26th of this month. It was not yet decided what was to be done with the million under the control of the Treasurer.

In reply to Mr Collins, Mr Seddon said he did not think a Royal Commission would be able to solve the old age pension question; the matter will require to be dealt with by the House itself.

In reply to Mr W. Hutchison, Mr Seddon said he had joined with the Premier of Victoria in inviting the Duke and Duchess of York to visit Australasia. After questions were answered the adjournment of the House was moved, and a discussion took place, chiefly on the New Plymouth Harbour Board and North Island Main Trunk Railway questions, lasting until the dinner adjournment. Evening Sitting. The House resumed at 7.30 p.m. The Foreign Insurance Companies Deposits Bill was further considered in committee. In the interpretation clause Sir R. Stout moved that “approved securities” shall mean Government securities of any of the Australian colonies as well as of New Zealand.—Agreed to. Mr G. J. Smith moved an amendment to the interpretation clause to exempt fire and marine insurance companies from the operationof the bill.— Mr Wardsaidtbat most discreditable things had been done by some fire and marine insurance companies and he wished by this bill to step that, but he was quite prepared to exempt those companies from payment of deposits on condition that they gave satisfactory proof that they were what they represented themselves to be.—Mr Smith then withdrew his amendment and the clause was eventually postponed so as to prepare other amendments. ’ Mr Ward said he proposed to amend the bill so as to provide that where the policies of a company did not exceed LlOO,OOO the deposits should be L5OOO and an additional sum of L5OOO for every additional LlOO,OOO until the total amount deposited reached L 50,000. Clause 3 was amended in this direction. Clause 4, providing that no foreign company with limited liability, shall carry on life insurance was struck out, and progress was reported on the bill to enable clause 2 to be redrafted. The Lands for Settlement Bill was received from the Legislative Council with amendments which were ordered to be considered next day.—Sir R. Stout raised the question whether the Council could amend this bill, which was an appropriation bill, setting apart L 250.000 a year for five years for the purchase of land. He thought that if the Council could alter this bill they could also amend the Consols Bill, Advances to Settlers Bill and other money bills brought down by the Government.—The Speaker said that whilst the Council had no power to alter the money clauses in a bill they could amend the machinery clauses. He was not aware of the nature of the amendments made by the Council in this bill, but before they were considered he would look into them and give his ruling on the matter. Mr Mitchelson resumed the debate on the committal of the Native Land Court Bill. He complimented Mr Seddon on the grasp he appeared to have of the native question since he took the portfolio of Native Minister. The Premier had told them that if this bill were passed it would settle for ever the question of native legislation, but he (Mr Mitchelson) was not so sanguine of such a result. He quite agreed with the first part of the bill and he thought it was a great improvement on the present state of things. Part 2 of the bill however, relating to the right of pre emption, would not in his opinion, bo acceptable to the natives. The Premier should postpone this part of the bill for another year.—Mr Bell regretted that the bill had been brought down so late in the session. The bill was an attempt, and he hoped it would be a successful one, to codify the existing law. He feared however, that the provisions relating to the rehearing of cases would lead to hopeless and endless legislation. —Mr Houston complimented the Premier on his endeavour to deal with this difficult question, but was entirely opposed to the Government having the sole pre-emptive right over native lands.—Messrs Te Ao and Button urged that the bill should be allowed to stand over till next session.—Several, members supported the first part of the bill, but , there was a general consensus of opinion that the second part, dealing with the preemptive right, should be deferred till next session.—Mr Seddon thanked the House generally for the way in which they had referred to the bill.—Motion for committal agreed to on the voices. The Foreign Insurance Companies Deposits Bill was further considered in committee. Clause 5 was struck out and a'new clause substituted, requiring every fire and marine insurance company to obtain from the Public Trustees a certificate authorising the company to carry on such business. Another new clause was added providing that before such a company could obtain a certificate its financial stability must be proved. The bill was then reported with amendments. The Native Land Court Bill was under consideration in committee when the telegraph office closed at 2 a.m.