Ultimately the amendment was lost by 28 to 24. On clause 2, which empowers the Colonial Treasurer to raise one million pounds, Captain Russell moved that 'Colonial Treasurer ' be struck out and ' Governor in Council ' inserted. He said it was the usual formula in bills of this kind. They had already had the late Colonial Treasurer going to England to negotiate a loan and they would probably see Mr Seddon doing the same thing after the session. — Mr Seddon said Captain Russell was true to his conservative instincts and wished to cling to old traditions. He pointed out that the Governor-in-Council was simply the mouth-piece of the Ministry and there was no occasion to alter the clause as suggested. — After some dis cussion Mr Seddon agreed to insert, after 'Colonial Treasurer' the words ' upon being authorised by the Gover nor-in-Council ' and Captain Russell expressed himself satisfied with this alteration and withdrew his amend ment. Captain Russell moved to insert the word ' borrow ' as well as ' raise ' in the clausp. Lose by 32 to 25. Mr G. J. Smith moved to reduce the loan to half a million, which ho thought sufficient for one year, especially on the eve of a general election. — Mr Seddon opposed the amendment, which after nearly three hours' discussion was negatived by 31 to 23. Mr M'Lachlan thpn moved to reduce the amount to L750,000, which was lost, without discussion, by 30 to 21. On sub-section 1 of clause 2, which sets out the conditions of repayment of the loan, Mr Montgomery moved to add the vords 'provided the time for such repayments shall not exceed 25 years from the date, of issue of such debentures.' He explained that his object was to make the loan a short dated one, which he thought desirable in view of a still further decrease in the price of money. — Mr Sed don opposed the amendment, which after considerable discussion was car ried by 30 to 27 Mr Bell then moved a further amendment to make it possible to redeem the debentures at the end of 15 years. — Mr Seddon protested against this, and after a discussion the amend ment was lost by 31 to 18. The machinery clauses were then passed. 