PARLIAMENT.

Taranaki Daily News, 17 December 1921, Page 5

PARLIAMENT.

THE LEGISLATIVE COUNCIL. CHANGES IN RACING LAWS. PURPOSES OF THE NEW LOAN. By Telegraph—Press Association. Wellington, Last Night. The Legislative Council met at 2.30 p.m. The Gaming Amendment Bill (the Hon. E. Mitchelson) was read a first time. The Hon. M. Cohen gave notice of an amendment to restrict winter race meetings to seven events per day, and the Hon. W. H. Triggs gave notice of an amendment to legalise the publication of totalisator dividends. The Counties Amendment Bill and the Public Contracts and Local Bodies’ Contractors Amendment Bill were received from the House, read a second time pro forma and referred to the Statues Revision Committee. The Hon. A. Hawke continued the interrupted debate on the second reading of the Aid to Public Works and Land Settlement Amendment Bill. He spoke of the serious position in which sheep-farmers now found themselves, and suggested the Government should borrow and advance money to enable farmers to keep going.

Sir Francis Bell said it was true to a certain extent that public works could not be carried on out of revenue, but a good start had been made with the proposal for the construction and maintenance of main roads out of revenue. Money was no longer available in sufficient quantities locally, and the country had to go on the London market. A large part of this loan would be expended in hydro-electric work, which would be reproductive. The Bill was read a second time, and with the Grey Collection Exchange Bill, the Native Trustee Amendment Bill, and the Public Trust Office Amendment Bill, was committed. Later these Bills were put through the final stages and passed. The Education Amendment Bill was amended to make the oath of allegiance apply to everyone employed in a school, and disloyal action was extended to include disloyal writing. The Bill was read a third time and passed. The Council rose at 4.36 p.m.

HOUSE OF REPRESENTATIVES REPLIES TO QUESTIONS. The House of Representatives met at 2.30 p.m. Replying to Mr. T. M. Wilford (Leader of the Opposition), the Hon. G. J. Anderson said the most recent estimate of the cost of developing the Macdonald mine (Huntly) was £220,000, and it might cost £250,000. The Government was not prepared to spend that sum, or anything like it, on that work at the present time, as there was ample coal supplied from the mines already opened. In reply to Mr. H. Atmore (Nelson), the Hon. E. P. Lee said he did not favor the importation of egg pulp into the Dominion, and he would consider either the total prohibition or a considerable reduction in the quantity imported. On the motion of the Hon. W. D. Stewart the amendments made by the Legislative Council in the Banking Bill were agreed to. AUCKLAND CITY LOAN. Mr. Massey announced that he had just received information that the Auckland City loan of £400,000 was placed on the London market yesterday, and was immediately over-subscribed. The term of the loan was fifteen years, and the rate of interest was six per cent., with one per cent, sinking fund, and it was taken up at 94. That, he thought, was particularly good under the circumstances, because it must be remembered that this was the first local body loan floated on the London market without a Government guarantee. He could not agree to continue the practice of guaranteeing local bodies’ loans; otherwise there was a danger of injuring the Dominion’s credit.