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Wednesday, 21 October 1931

Mr LATHAM (Kooyong) .- When speaking on the second reading I pointed out that whilst this clause provides for payment of bounty at a rate not exceeding 6d. a bushel, and clause 12 provides for a loan of £3,000,000, there is nothing to limit the liability of the Commonwealth under clause 7 to that sum. The committee has been assured that under this bounty scheme the maxi-, mum bounty is likely to be collected. Nobody can know in respect of how many bushels bounty will be payable. I suggest the addition of a proviso that not more than £3,000,000 shall be expended in pursuance of this clause.

Mr PARKER MOLONEY (HUME, NEW SOUTH WALES) - The banks realize that the sum of £3,000,000 may be slightly exceeded, and they are quite prepared for that.

Mr LATHAM - I understood that Parliament was being invited to agree to the addition of £3,000,000 to the national debt for the purpose of a pay ment to wheat-growers. Now we learn that the committee is asked to agree to whatever liability may be necessary in order to pay 6d. a bushel to the growers. I am not satisfied with an indefinite proposal of that kind.

Mr PARKER MOLONEY (HUME, NEW SOUTH WALES) - That point was discussed with the banks. The liability will be regulated by the bounty to be paid.

Mr LATHAM - If1d. more than £3,000,000 is expended a further validating bill will be necessary.

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