PARLIAMENT AT WORK.

Taranaki Daily News, 20 September 1924, Page 5

PARLIAMENT AT WORK.

STATE ADVANCE LOAN. LABOUR MEMBER’S PROPOSAL. THE ESTIMATES DISCUSSED. By Telegraph.—Press Association. Wellington, Last Night. The House of Representatives met at 2.30 p.rp. to-day. Mr. F. Langston o (Waimrino) asked the- Prime Minister whether, in view of the fact of a loan of £ 1 1 ,125,000 having been promised to the Government by the Bank of New Zealand for the right to issue 1,125,000 shares, would the Government contribute £375,000, which meant that it would hand that amount to itself for the privilege of paying 5j per cent thereon; (*2) would the. money for the purchase of these new shares be taken out of surplus revenue, and if so should not the £375, be transferred direct to the State Advances Office for the purpose of assisting settlers who were at present protected under the moratorium, thereby saving 71 per cent., ■which amounted to £18,750; (3) had not the announcement of the issue of new shares caused the unimproved value of Bank of New Zealand shares to inflate per cent. in one night; and (4) was it not a fact that the paid up capital of the bank was sufficient for all its legiUmiate requirements, and whether, in view of these fact®, would the Government introduce legislation this sea. si on to protect trade and industry by providing a State Bank. The Prime Minister replied that Mr. Langstone’s statements were not the facte as he had described them and he would take the opportunity of proving that at the proper time. As far as the suggestion regarding the £375,000 being transferred ih cash was concerned, he had no such thought in mind. The Government did not do its business in that way. The Bank of New Zealand had not issued the new capital for its own requirements; the money would be of great assistance to producers. Replying to Mr. R. A. Wright (Wellington Suburbs), the Premier said there would be a Bill dealing with teachers’ superannuation this session. He also ainticipated that there would be a Bill dealing with public service superannuation and classification. The House then went into Committee of Supply to consider t'he estimates for the Mines Department ( £41,154). Mr. H. E. Holland (Buller) stressed the importance of developing new mines in the Dominion, so that the whole of the coal consumed in New Zealand could be produced locally. He moved that the vote be reduced by £5 as an indication that New Zealand’s coal supply should be produced locally. The Hon. G. J. Anderson (Minister for Mines) said that of t'he Government departments the Railway Department was one which imported most coal. He was appointing a committee which would go into the whole question of the use of coal on the railways, and when their report came in it would be acted on. As a matter of fact the Government was not the largest importer of coal, for most of it was brought in by private dealers,

The Minister added that he agreed with the principle of the amendment, but it was impossible to produce all the locally required coal in New Zealand UT til all the miners and employers agreed to sink differences and accept the decisions of officials tribunals. Under existing conditions it was impossible to produce all the coal we required in New Zealand.

Mr. M. J. Savage (Auckland West) suggested they might compromise on the amendment by agreeing that for all State purposes New Zealand mined coal should be used.

Mr. P. Fraser (Wellington Central) said the solution of the problem lay in the representative of mines in the Cabinet insisting upon State departments using New Zealand coal. He should talk quite straight to the Minister for Railways on the point. Mr. O. Hawken (EgmOnt) said the amendment waa an instruction to the miners and the coal owners and not to the Government. The fact was that the miners had played " ducks and drakes” with the markets, owing to fiequent strikes. It was no use hoping to develop the market unless a sure and regular supply could be guaranteed. Many consumers would not use New Zealand coal because they could not depend on the supply, and so instead of exporting coal as we should be doing we were importing coal. On a division the amendment was lost by 33 votes to 29 and the vote was then passed.

A number of other items were passed and the House rose at 1J25 a.m. till 2.30 p.m. on Tuesday.