EXCHEQUER BONDS.

Colonist, Volume LII, Issue 12748, 21 March 1910, Page 2

EXCHEQUER BONDS.

MR ASQUITH AT OXFORD. THE HOUSE OF LORDS. LIBERALS INSIST ON RE-CON-STRTJCTION. Received March 20, 5 p.m.) London, March 19. The Government is issuing 21 millions of three per cent exchequer bonds at 99J, with a five years' currency. "The Times" states that the germ of the Government's scheme of House of Lords Reform will be found in ' clause 63 of the South Africa Act. j Mr Asquith, in a speech at Oxford, ' said the election had created a position unforseen by all parties. It was only after hesitation that he and his colleagues concluded it was their duty to remain in office. The Budget must j be pressed forward with promptitude j and despatch, in order to set right the unexampled financial confusion produced by the House of Lords. A rationally constituted second chamber wai; desirable, but not a chamber overwhelmingly and undisguisably partisan. The House of Lords reform debate showed a desire that the ancient' structure should be disguised with a coat of democratic whitewash. The Liberals demanded that the second chamber bo rebuilt on a democratic basis. The legislative power of the country declared itself predominantly Liberal, and the absolute veto must "The Times," commenting on the speech, says- that Mr Asquith and his frirmds mean to preserve the second chamber as a sham and. a screen. That is the new democratic conception or English constitutional government.