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Friday, 24 August 1923

Mr PARKER MOLONEY (HUME, NEW SOUTH WALES) (8:25 AM) . - The right honorable gentleman made a mistake when he said that on the 3rd July a vote was taken on the amount of the advance. As a matter of fact, what occurred at that time was that I moved the adjournment of the House to discuss the matter, and the motion was talked out, and no vote was taken. There is, therefore, nothing to show whether the House is in favour of a guarantee or not. Of course, the House can say whether it is in favour of a guarantee now. The Prime Minister has referred to the Commonwealth Bank, but I see. no mention of it in the Bill.

Mr Bruce - The Commonwealth Bank is not mentioned in the Bill, but it is through the Commonwealth Bank that all the arrangements in connexion with the Wheat Pool will be made.

Mr PARKER MOLONEY (HUME, NEW SOUTH WALES) - Would it not be as well to have the Commonwealth Bank mentioned in the Bill?

Mr Bruce - That- is not necessary, and the Commonwealth Bank will probably get assistance from all the

Mr PARKER MOLONEY (HUME, NEW SOUTH WALES) - I do not wish to prolong the discussion after an allnight sitting, but I re-affirm the opinion I have already expressed that the guaranteed advance should be 4s. per bushel. Honorable members on this side representing country constituencies are of the same opinion. The only statement in opposition to this view made during the discussion of the motion for the adjournment of the House was that made by th-j honorable member for Echuca, who said that there might be a difficulty, because wheat might not realize 4s. per bushel. The honorable member was, of course, quite entitled to give his opinion, and it is just as competent for another honorable member to take a different view. But assuming that the price of wheat did not reach 4s. per bushel, that would only mean that the difference between the price and the guaranteed advance, if it were 4s. per bushel, would have to be made up out of the Consolidated Revenue. The honorable member for Echuca seemed to say that he would consider that a wrong thing to do, but when only a few days ago we were considering the case of the wealthy leaseholders of this country, honorable members opposite took an entirely different view.

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