COST OF RAISING LOANS,

In moving for the printing. of ,-a return. Mr. Waterhouse spoke strongly and at some length on the cost of raising loans, which, he said, had increased and was in creasing, and 'ought to be diminished. The expenses, he showed from figures, had *in many cases more than trebled, which was caused by too many persons being allowed to have a hand in the busi ness. He had taken up the subject so that public attention should be called to it. . . '

JS'ATIVE LAXD PURCHASES,

On- the- motion of the Hon. Mr Miller for a select committee to enquire into tho expenses of native land purchases for the past year and a quarter, a long discussion arose..
Sir F. D. Bell considered the whole policy of the Government in incurring heavy liabilities for land without the sanction of the Assembly was wrong. Mr Waterhouse agreed with the last speaker, and said that the amount of the present unauthorised claims was nearly a million-. The Government employed agents too, who often bought, at a high price, land that was absolutely worthless.
Dr Pollen said the late Government had acted in this respect directly opposite to Parliamentary authority..
Several other Councillors spoke on the question, and.a, suggestion was made that the committee should reconimend reme dial measures for the cause complained of, and with this understanding the motion was carried.
■The Council adjourned at a quarter to four.
