GENERAL ASSEMBLY OF NEW ZEALAND.

Taranaki Herald, Volume XXXVI, Issue 7389, 7 June 1887, Page 2

GENERAL ASSEMBLY OF NEW ZEALAND.

LEGISLATIVE COUNCIL. The Legislative Council met at 2.30 p.m. Mr. -Reynolds moved the second reading of the Government Loans to Local Bodies Act Amendment Bill. Dr. Pollen said this and cognate bills formed part of a great policy, one aim of which was to make the State the landlord, and another to make the. .Treasury a great pawnshop and the Treasurer a pawn-b/oker and a bill-discounter on a large scale. He was of opinion that unless the whole financial system .was reconstructed a great crisis would come upon the colony that 'nothing could avert. Considering another session would shortly be held, he thought the* had better let matters stand as they are, and to that end moved that the Bill be read that day six months. Mr. Reynolds asked why Dr. Pollen did not move to repeal the original Act, if his contention was sound. The present Bill provided for matters which experience had Bhown were required for the proper working of the Act. After some further discussion the second reading was carried by 15 to 14. ■ Mr. Reynolds moved the second reading of the Local Bodies Loans Act Amend* ment Bill. The debate was interrupted by the 7.3Q p.m. adjournment. The L/'ouncil resumed at 7:30 p.m. The assent of the Governor was received to a number of bills passed this cession. The debate on the second reading of the Local Bodies Loan Act Amendment Bill was resumed, and the second reading was negatived. by 14 to 13. The Westland and Grey Education Board Aot Continuance Bill, Interpretation Act Amendment Bill, and Building Societies Act Amendment Biir*were-*fad a second lime, and the Council adjourned ,t 8.50 p.m.