8.—6

XXXI

to British and Colonial markets have helped our enemy to build up her large commercial and industrial establishments and to increase their export manufactures, thereby amassing great wealth from British countries, which has helped to supply her with the sinews of war. One way of preventing Germany again becoming a great commercial and industrial nation with the assistance of British countries is to prohibit German-made goods from being imported into New Zealand and other British countries. One of our supreme duties for the future will be to make our people, as far as practicable, a self-reliant and self-contained nation. The House will be asked to place a duty of 50 per cent, on all importations from countries that are now or may be enemies of the British Empire, excepting such goods as may be exempted from time to time by Order in Council. Cost of Living. —The steadily increasing cost of living is causing a great deal of anxiety. It has become a matter not only of national but of world-wide concern. In New Zealand a Royal Commission, which was set up to inquire into the question and make recommendations for the consideration of the Government, furnished a valuable report. While it is exceedingly difficult to deal effectively with the causes which tend to increase the cost of living, it is the intention of the Government to take measures to remove any abuses that may exist, and to prevent any person taking advantage of the conditions associated with the war to trade upon the necessities of the people. The object will be to ensure that the cost of the food, clothing, and shelter of the people is in no way unduly or artificially increased. Our desire should be that no part of the field of business opportunity may be restricted by monopoly or combination, and that the right of every man to acquire commodities, and particularly the necessaries of life, in an open market, uninfluenced by the manipulation, of trust or combination, may he preserved, and the people not exploited. In this connection, with a view of increasing the powers of municipal corporations and avoiding the expense incidental to special legislation at the instance of those bodies, it is proposed to amend the Municipal Corporations Act, giving powers somewhat similar to those given to the Cities of Wellington and Christchurch in the year 1914, under local Acts, relating to the inspection, sale, and control of the local milk-supply ; the establishment and maintenance of milk-stations; the establishment, equipment, and maintenance of markets, refrigerating-chambers, and chambers for the cool storage of meat and other articles intended for human food; and also to establish, equip, and maintain ocal municipal bread-supply services. LOAN FOR PUBLIC WORKS. The Government has very carefully considered the best method of providing moneys for carrying on public works, and, in view of the great difficulties in the way of borrowing in the Home market except for war purposes, it has been decided to raise money by issuing debentures in the Dominion. It is proposed to issue free of income tax, debentures for the sum of £5, or multiples of £5, at 4J per cent., and the period will vary according to the desire of the subscriber, but will in no case exceed twenty-five years. It is the intention of the Government to accept deposits on account of the loan through the post-offices in the Dominion, and through recognized brokers at a commission of ss. for every £100 contributed through them. The total amount to be raised will be limited to £2,000,000, and in this sum is included £500,000 for additions to open lines. The minimum value of a debenture has been fixed at a very low figure in order that all classes of the community may be able to assist the Government, and I make this appeal to the people of the Dominion feeling confident that they will be glad of a further opportunity to express their patriotism. It may not be out of place if I here quote from a speech made by the Chancellor of the Exchequer in the House of Commons in June last, when explaining the details of the recent great war loan raised with such conspicuous success from all classes of the community at Home. Mr. McKenna said, "He who subscribes to the country's