Agreement with United Kingdom (Capital Sum) Bill, 1938 (Certified Money Bill)—Committee Stage.

Question—"That Section 1 form part of the Bill"—put and agreed to.
Question—"That Section 2 form part of the Bill"—put.

Mr. Hayes

On this section I want to say that the section provides for the payment of £10,000,000 to the United Kingdom Government, and a later section provides for the issuing of a loan not exceeding £10,000,000 for the purpose of liquidating the dispute with the British; but the amount which we have lost is by no means confined to the £10,000,000. There has been over £26,000,000 lost, and there has been a considerable loss to the whole population, the farmers and others. There has been a decrease in production and a decrease in population. On the other hand, we are glad that the dispute, which reflected no great credit on either of the combatants, should be concluded in this way and for this sum, and we wish the Minister luck in his loan.

Question put and agreed to.
Sections 3 and 4 and the title agreed to.
Bill reported without amendment.