The Excuses.

Sir Robert then went on to speak of the excuses made for this procedure. The Government said first it was in accordance with the law. They did not say the law compelled them to do it. They seemed to forget that he (the speaker) had moved an amendment to the Appropriation Act of last year to prevent them seizing the fund. He had wished to see Mr. Ballance's Act of 1892 preserved in its integrity. But the Government voted against that, and got their blind followers to vote against it, and so the amendment was defeated. It was a peculiar thing that the law which allowed them to do as they had done was passed in 1891, and it was a slur on Mr. Ballance's memory to say that when his law was passed In 1892 he ever thought the Sinking Funds would be seized. The Government now, however, wished to raise a quibble on words in an Act of 1891 to excuse their wrongdoing. In this year's Financial Statement the Government had abandoned their old ground, and now said boldly that 'posterity cannot do us any good: on the other hand, we may do it good; therefore posterity must pay for these loans.' (A voice: 'Right.') 'There are some persons,' retorted Sir Robert, 'who would approve of anything the present Government does short of sending them to prison.' (Loud laughter.) Proceeding, he said he thought posterity would have quite enough to do to look after its own wants. The present procedure was dishonest. Let the present generation pay its own debts, and not to do so was a reversal of Mr. Ballance's policy. (Applause.)