LEGISLATIVE COUNCIL.
EXCHANGE RATE ATTACKED. HON. R. MASTERS’ DEFENCE. (By Telegraph.—Press Association). WELLINGTON, Tuesday. The Legislative 'Council met at 10.30 a.m. to-day. The Finance Bill No. 3 was referred to the Statutes 'Revision Committee. On the second reading of the Appropriation Bill, Sir Francis Bell (Wellington). entered an emphatic protest against the raising of the exchange rate. He referred to a prospectus Issued In London, which stated the public debt had increased by £23,317,000 in one year. Sir Francis Beil attacked the raising of the exchange rate and said there were whispers that the remedy was to be repudiationSurely it was time for the Government to pause and consider not only the welfare of a -class but the hateful and hideous burden which was being cast on the country. The Leader of the 'Council, the Hon. R. Masters, dofended the Government’s action in raising the exchange rate, and said the total obligation on tile Government was £1,417,000. The 'Bill was put through the remaining stages and passed. The Counoil adjourned at 1.45 p.m. -until the rinsing of the bells.
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Waikato Times, Volume 116, Issue 19407, 6 November 1934, Page 8
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179LEGISLATIVE COUNCIL. Waikato Times, Volume 116, Issue 19407, 6 November 1934, Page 8
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