THE IRON INDUSTRY.

Stratford Evening Post, Volume XXXX, Issue 55, 31 October 1914, Page 6

THE IRON INDUSTRY.

JTib Preu Association 1 Wellington, October 30

In the House of Representatives tonight, Hon. W. Fraser moved the second reading of the Iron and Steel Inrustrics Bill, explaining that the Bill was an attempt to induce capitalists to take up these industries and .develop them. Sir Joseph Ward said that great care should be taken to see that no option was given to .an exploiting company. He thought on the whole that the State should undertake this work itself, but if it could not do so only a working company should be encouraged, and the State should have the right of re-entry. Mr Atmore and Mr Payne stressed the view that the State should control these industries. The debate was interrupted by the dinner adjournment. Resuming the discussion, Mr Rus- ■ sell urged that the control of these j vast mineral deposits should be in the! hands of the Government, and the State should undertake the development of mineral areas. He.juoved an j amendment, to the , motion to go intoj committee, that the State take in ( hand the development of the iron in-, •dustry. • j Mr Glover disagreed with the pre-, vious speaker and said that develop-j ment of .the iron industry should notj be left to State enterprise. ]sr Ell heartily supported the amendment. Mr Webb said the point was not ■whether the State could afford to nationalise the industry but whether it could afford to allow it to slip out of its hands. Mr Anderson opposed State enterprise in the iron industry. He contended that the State could not compete with private enterprise in this industry.

■Mr Young said he. was prepared to move in committee that the State should in no circCimstances pay a premium- for the control of a State-sub-sidised industry.

.Mr Isitt warmly protested against allowing the iron industry to pass into the hands of private individuals. Mr Okey referred to the efforts made by the late Mr E, M. Smith to develop the iron industry in Taranaki. They should take advantage of'the opportunity to use - foreign capital. Mr Atmore said he might have expected the member for, Taranaki to congratulate the Government upon bringing in the Bill, but it was not a matter for congratulation for the people. Mr Bradney wished to place on record figures which would show that tlxe State could profitably manage enterprises, The natural resources of the country, would never be developed if we waited for State enterprise.

The House divided upon the amendment, which was lost by 35 to 22.

Hon, Fraser said the Opposition was not opposing the bill, but the Govern, ment that brought it in. It was necessary to get brains and capital from abroad to develop the deposits. The Bill did not favour any company.. It was the company that made the, most advantageous ■ offer that would get recognition. /

On resuming after the supper adjournment', the Iron and Steel Industries Bill was taken in committee. Wellington, October 21. After the Telegraph office closed the debate on the Iron and Steel Industries Bill was continued, and at 2.10 the Bill was reported with amendments, which altered clause 11 to give the Government power to take over works at any time after March, 1928 without consideration or compensation. The debate on the third reading was continued by Messrs Payne and Young. Hon. Fraser, in reply, said he was surprised at the reception of the Bill. He put it on the programme as a sort of entree. However, the Bill wquld go through, and he hoped it would do good. The,Bill was.then read a third time and passed.