PUBLIC WORKS COMMITMENTS.

Timaru Herald, Volume XCVI, Issue 14858, 30 September 1912, Page 7

PUBLIC WORKS COMMITMENTS.

CRITICISED IN HOUSE. TTMAUU LOAN CITED. In the House on Saturday morning, Mr Russell mcved to redueo the vote for tho State Guaranteed Adva.ices Department as an indication that tho Government should borrow turtlier Rums of money in order that it night assist looal bodies in the work if colonisation. He said tho Govern >)>ent should assist in the development of the back blocks. If the ben-owing policy of tho Government did not allow it to make, loans to local bodies, provision should be made for further borrowing to assist in tho development of tho country. Tho Minister stated that iho previous Government had committed the country to £2,152195. When -ho took over the reins of offiro he had to find £1,284,000. The amount lent to comity councils since tho Act eamo into force was £658,000 and to boroughs £1,110,780. He was not enamoured of hia Inheritance. Ha quoted tho sums

virion had been lent to boroughs: Timaru. £110,970; Wauganui, £69,000; \Vang:;uiu East, £23,90'): Omv lninga, £45,050; Newmarket, £25,900. lie would have to raise a million a year to meet tho responsibilities which were loft on his shoulders when ho assumed office. Ho intended to bring dowu an amendment to the Local Bodies Act, ,-iud hoped the Cabinet would agree to Tho Prime Minister said ho kucw oi l one local bodv which had got a hrge loan and which had £40.000 or £50,U)0 in the haul; to-day. Tho disclosures which tho Minister of Finance had mado showed a record of squandering such as this country had never known. Not long ago this country had gone for a two-million loan to tho' London money market: It had to pav 6 per cent., and 8-1 per cent, of tho loan wa? left on the hands of the underwrites. Tho first duty of any Government was to provide money for the development and opening up of tho back-Mocks. The Government would provide money for such purposes. He believed tho country was entoring upon a roco.-d season. Tho amendment cams vith very bad grace. MY Rufsoll said that tho Government had fo jrp to the London market for £1,750,000. so whore was the difficulty

about the extra money. When the Mackenzie Government went on tho London money market it had secured infinitely better terms than Queensland had. At the Kime time the Minister of Finance ought to be ashamed of himself. He quoted from tho Minister's own Budget to show that he liad m srepresented the position in regard to loans. Tlie Minister of Finance said ho had quoted tlie loans finally approved in the return lie had presented. He had a right to feci aggrieved when lie found that on coming .nto office three-quarters of a million of money was due under approval. He believed the country made a huge mistake when it passed legislation and allowed these strong local bodies to come down and secure k.rgo loans, to the exclusion of coi'ntv councils. 'Within 16 months £llo,ooo' had been granted to the borough of Tinmru. Tho country cou'd not stand that. Mr Hine said that this was one of the sorriest spectacles ho had ever witnessed. The attitude of the Opposition _ was the very essence of political hypocrisy. The m«t : on to reduce tho item was lost on the voices. At 1.55 a.m. the Estimates co.-nr.let- ! Ed their ras<sigo through committee, 1 and the House rose at 1.55 a.m.