POLITICAL NOTES.

Star (Christchurch), Issue 16559, 19 October 1921, Page 4

POLITICAL NOTES.

(From Orn Correspondent.] WELLINGTON, October 18. THOSE WOOL PROFITS. Mr Massey, in reply to Mr Williams (Bay of Plenty), promised the House . that within a few days he would make ’ a statement regarding hia efforts to secure to New’ Zealand wool growers a share in the remaining wool profits ft out the Imperial Government. This Statement, I understand, is unlikely to be very satisfactory, as in view of about twenty million pounds which the Imperial Government is expected to lose ovei the whole transaction there is no possibility of securing further payment® from it. SINKING FUNDS. A suggestion from Mr M’Callum that the Government might consider issuing future loans on the same basis as advances to settlers, providing for the i instalment method of repayment of in- ,, terest and principal, drew from the ‘ Fix-anco Minister an expression of opinion that the present system of sinking fund? is not altogether satisfactory. Mr Mnssey remarked ho was glad that the question had been asked, for he was strongly of opinion that the present sinking fund system was not by any means satisfactory* had been discussing it with the Treasury for some time, but had no definite proposal, though he hoped to make a statement when the Budget was being, discussed.

He would be glad to bear Mr M’Callum’s suggestion in mind. A statement by the Controller and Auditor-General, presented to the House, shows that under the present sinking fund system £8,763,720 had accumulated at March 31 towards payment of the public debt, of which two and a half millions relates to war loans.