PARLIAMENT.

Taranaki Daily News, Volume XXIII, Issue 192, 26 August 1901, Page 2

PARLIAMENT.

PER PItEaS ASSOCIATION. I . « I HOUSE OF REPRESENTATIVES. Friday, 9.?ain August. ! i TUB FINANCIAL DEBATE. At 7.3') the debate on the Financial was opened by Captain Russell, who commenced by referring j i to ths absence of returns necessary to j enable them to properly discuss tfce; . financial position of the colony and to verify the figures in the Statement. There was through the Statement a subdued tone of irony and a complete tone of insincerity, and the Premier has trusted the people very little, and carried on a policy of bribing the people. The great increase in the public debt caused the very gravest alarm I throughout the colony, and if there was one man more than another to whom was due that alarm, it was the Premier himself. It was the duty of the Premier to have taken steps to allay the alarm caused by his own state-J ments. The figures of 'the Financial' Statement were such as to lead anyone to tbink there was serious danger ahead, and it would have been far better, instead of making a large increase in departmental expenditure, to have taken other steps to prevent what he himself suggested, an increase cfl tax-it ion. There was, he went on to say, a falling off of £24,148 in the Customs returns for the June quirter, j or at the rote of £IOO,OOO a year, although that was the quarter which was leiai likely to chon a shrinkage. And yet in spite of that the Premier referred to the elasticity of the revenue. He believed at no time had prices been so low, and the reduced spending power must result in a general and all round reduction of Customs and railway revenue. He quoted figures in support of his contention that the railways were being run at a loss, and pointed out that as most of the railway loan money cost 4 per cent., and the railways were only required to. pay 3 par cent., an injustice was being done to the country. He showed that the progress of railways during the ten years previous to 1891 was greater in proportion to the money borrowed than for the last ten years, while the difference was still more marked as between the past three years and the three years previous to the present Administration coming into office, D spi'e the heavy exp nditure by the Government, the population had notince9BeJ, and he believed the Government had unsettled every industry, and had done unconscionable harm generally by their policy. The money t v ey were now borrowing for cimpulsory purchase of estates would ba better employed ia opening up fosh ciuntry, instead of driving people off the laird which was already settled and paying rates. He could not see how, if existing lines of steamers could not m'.ko the Cjpe trade pay, the Grverr'meot would achieve any greyer meisure of success, but it was possible the quesSi jn of cold storage at the Cape was worthy of consideration,

Mr. Napier, who followed, said Oaptiin Russell had accused the people of New Zealand of accepting bribes, and he submitted that the acous ition was an insult to an ovf rwhelming majority of the pespla of Ne* Zealand. Captain Russell was urging the cessation of public works-(Captiin Russell; " No ") -and the running of railways on commercial Hn?s. That was the policy of the Opposi ion —to make the public services earn suob profit that taxation would be lightened, and they would escape legitimate contributions to the Exchequer, which they were now paying through the graduated land Ux. As to the railways earning 3 p<sr cen*., and being run on commercial prioo'plfs, that policy m»unt; *ha f . th« railways could not be used for ope. dag up the country. The primary objact of the railways ought to be to op»n up the country, which must result in a considerable advantage to the State, As to the increase in the publio debt during th« past year, more than half of; it was directly producing interest, and a groat part of the remainder was expended in permanent works, which formed a very large asset. He ju*t'fiad the increases in the education and defence votes. Re hoped some practical proposes would be PuHmitte i for securing the permanency of the 'Frisco mail contract, and advocated the speedy construction of tha North I land Main Trunk Railway..

Mr James Allpn urged that the Pre.i mist's own words in his statement memt ihat unless care was exercised 8 larips would hive to be kept down, Bribery had been inotted by the Premier in going to the constituencies and urging that they could not expect assistance unless they supported him. Referring to the surplus, h a said they must, deduct .£70,000 exj»M of liabilities this year over lift year, b'sidra* wh'ch the had fbryeais. been putting loan monhy into the revenue side of the accounts. The, Premier pr*>achfd pruienc j and ec'»> j omy, yet the Budget propse* to in-j crease tfce exp nditnre by .£284,000. | Last quarter there was an excels if ~£362,000 expendi ure over r-venue. The ex ess had never b fore si great. We were now unible to face! Che London money marked Since 1891 j the ao'ual h growing had nmoun ed to £12,649,000, but tho moss s-rioui matter in the S at"merit was tbatthrre ousbt to have a balance of £143,000 in wars and 'of the Public Works Account oa 3lst March list, but the balance wis not there. The deiute was intenuptel at 10 30, and the House adjourned till 10.30 on Tuesday.