43 



(n) After default for the period of three calendar months made by any Board iu the 

 payment of the principal sum and interest secured by any mortgage, deed, or bond made 

 hereunder or purporting to be BO made upon the rates and other revenues of the said Board, it 

 shall be lawful for the mortgagee to make application to the Supreme Court that a receiver of 

 the said rates and other revenues of such Eoard may be appointed. And when appointed under 

 the direction of the said Court such receiver shall pay over to the said mortgagee from and out 

 of the produce of such rates and revenues at such times and in such proportions as may be 

 ordered by such Court the sum which such Court has found to be due to the said mortgagee 

 under the said mortgage deed, and the said receiver shall in all respects have the same powers 

 and be subject to the same obligations and liabilities as a receiver appointed under the equitable 

 jurisdiction of the said Court, and shall continue to receive the rates and other revenues of such 

 Board so mortgaged as aforesaid, and to pay them under such direction until such time as the 

 mortgage debt has been fully paid off. 



If under the guarantee hereinbefore provided the said debt, or any part thereof, has been 

 paid out of the Consolidated Eevenue Fund or General Loan Account, the Minister shall 

 thereupon have the same rights as are given by this subsection to the mortgagee. 



Mr. GIBSON (Hay) proposed that the clause be accepted as printed. 



Mr. FREEMAN, looking at the second line, said he could not see what security was to be offered. 

 It seemed to him that the only security they had to offer were the barrier-fences which they might erect 

 and the rates. 



Mr. FLANAGAN (Gunbar) would second Mr. Gibson's motion. 



Mr. ALISON (Canoiibar) said that personally he had hardly expected that they would make the 

 progress they had made that morning, and he had not gone into this clause as closely as he desired, and 

 they should adjourn now to give them time to think over it. 



Mr. GIBSON (Hay) had not been certain about coining forward, and then ho had moved it en bloc. 

 This dealt with perhaps a million of money, and they should consider it carefully. 



The CHAIRMAN said he hoped that every delegate to the Conference had' carefully considered and 

 read through the Bill before this. 



Mr. ALISON (Canonbar) thought they could hardly have worked it out and be ready for it 

 suddenly ; as it had come on he thought they ought to adjourn this until 2 o'clock. 



Mr. LAURENCE (Balranald) would like to know if the Board would become responsible personally 

 for any money borrowed outside the rates. 



The CHAIRMAN said that if they borrowed it legally they would not be responsible, but if they 

 borrowed it illegally they would be responsible. 



Mr. OAKDEN said he was against giving the Boards the power to overload them with increased 

 taxation. He moved that the clause be struck out. 



Mr. Ross seconded Mr. Oakden. He thought the Board should not have the power to borrow so 

 much money as four years' revenue. They could see by the experience of other Boards that it was a very 

 dangerous way to get money. The Government should provide it in some other way than this. They 

 should not elect men on this Board with power to anticipate the revenue of four years. 



Mr. ALISON (Canonbar) rose to support the view taken by Mr. Eoss and Mr. Oakden. He never 

 liked this clause. It allowed a Board, appointed for one year, to mortgage the revenues of a Board for 

 four years. He thought that they should not be allowed to anticipate their revenue for one year. Let 

 them pay as they go ; it was a good old system. The clause did not prevent them borrowing for wire- 

 netting. Of course he would not support it if it had that effect.. He thought it advisable to have some 

 way of raising money to allow private owners to fence in their holdings, and he did not regard it as 

 possible if this clause was struck out. He thought we should have some clause, and he favoured Mr. 

 Brown's proposition in regard to wire-netting in place of this clause. He thought Mr. Brown's proposition 

 much more likely to meet this case. 



Mr. GIBSON (Hay) said that he would point out that all works in their initiatory stage generally 

 involved a considerable amount of expenditure. The power to borrow money was given to Municipal 

 Councils. He thought it was necessary, if they were going to carry out a system of local control, that 

 the body who was appointed should have power to go to this extent of four years. It was not very much, 

 four years' money, and to a large extent it would be for the barrier fences, not for individual holders 

 interests, but for the interests of the people in the whole district. 



Mr. ATKINSON said they should take up the position of the Government and spend the money 

 when it was voted. 



The CHAIRMAN did not see how the Minister was to advance the money without getting borrowing 

 powers, without any security whatever. He did not see how they were going to ask the Minister to lend 

 them money for wire-netting without security, and the onlv way they could give security was by giving 

 the Board power to borrow. The difficulty always had been in advancing money for wire-netting. There 

 had been no local body to advance the money, and to look after their interests. He thought they could 

 trust these men, who were administering the Stock and Pastures Act, with the power of borrowing, for 

 carrying on, according to law, the actual administration, and the advancing of money to settlers within 

 their district for wire-netting. 



Mr. ALISON (Canonbar) said that if the annually-elected men spent all the four years' revenue at 

 once, the new settlers would have no power to get any money at all. 



The CHAIRMAN said he was only putting his own view of the matter. They might have different 

 views. It would be damaging the usefulness of the Pastures and Stock Board if they struck it out. 



Mr. GARDEN'S amendment, " That the clause be struck out," was put to the meeting and lost. 



Mr. BACON (Brevvarrina) asked if it was competent to move a fresh clause to take its place. It 

 seemed to him that it was too drastic. He thought they had gone ahead too fast. 



The Honorable R. CARINOTON (Jerilderie) said they had emasculated the Bill. 



Mr. BACON (Brewarrina) said that instead of the Board being able to borrow four years' revenue, 

 they would borrow two years' revenue. 



The CHAIRMAN said that he could not take that now. Mr. Bacon must prepare a new clause and 

 propose it later. 



Clause 



