The Government Insurance department.

Wairarapa Standard, Volume XIX, Issue 1840, 4 June 1886, Page 2

The Government Insurance department.

A discussion took place in the House ot Representatives on Tuesday, with respect to the Government Insurance Association. Mr Ormond asked the Government if they would propose or assist the appointment of a select committee to inquire into and report to Parliament on the subject of the investments made by the Government Insurance Association in land purchases in different parts of the colony during the past year, respecting which reports have been circulated which, if not refuted, are calculated to injure the Association -, such Committee also to be requested to report generally on the working of the institution ? This question elicited a lengthy reply from Sir Julius Vogel, who said that as the matter of the purchase of land and buildings had already been discussed at the annual meeting of the policy holders there was no need to revive it. As to the administration of the Association Sir Julius Vogel said “ The Government are of opinion that although it could not be said that the handing over of the institution had been altogether successful, there is no question that the present system of control by the mixed Board does not answer well.' Sir, looking at the probabilities of the duration of the session, it is to be feared that the question which is before the policy holders for early consideration may not be settled by them, if a poll is demanded, in sufficient time to be of much assistance to the Honse ; and, therefore, Sir, it is probable that the Govern' ment will, on its own responsibility, bring down a Bill on this subject. The Uovernment are inclined not to accede to tbe request to take back the institution, but to see a still further trial given to the management of the institution, and give even larger powers into the hj ands of the policy holders. They are favorable to the policy holders electing representatives to an equal number to tbe nominated members by the Government. They will not stipulate that any of the members shall be Government officials. If, as seems to be the case, six is the convenient number, three will be nominated by the Government, and three elected by the policy holders. But there is one point that the Government considers of essential importance and that is that the Chairman shall be nominated by the Government, and otherwise the Government think they will be relinquishing too much control over an institution, the working of which might so largely affect the interests of the taxpayers. Whether or not the House is of that opinion I cannot say. If it takes the responsibility ot adopting another opinion, and thinks tbe chairmanship should be left to tbe members, of course the Government would be relieved of all responsibility in the matter.