68 
taking the 5%, that had to be paid by those receiving the 
loan, by way of stamp duty, this amount wa s thereby in- 
creased to $165,000, without taking into consideration any 
sums that became, repayable during 1909. Of course the 
whole $1,500,000 had not been lent out all at once and at 
the same time, but for all that, even on their own showing, 
it must be clear, that at least $100,000 were now available. 
Mr. Parkinson, hardly thinks that the stamp duty can 
be included in this calculation. 
Mr. Maefadyen says that he had been privately in- 
formed, that the $1,500,000 have been allocated as a per- 
manent fund, on the lines of an Agricultural Bank, but 
regrets that no authoritative publication of the scheme has 
ever been made. The least Government could do, was to 
publish, sav half-year, accounts, so that they might know 
exactly, what sums were maturing for re-loaning. 
Mr. J. Gibson reminds the Meeting that it is a gracious 
act on the part of Government to grant them any loan at 
ail, and he fails to see how they can dictate to Government, 
whether the sum now available is to be $100,000 or $40,000, 
in any case the amount was so trifling, that it did not matter 
very much, whether it was the one or the other. As for the 
accounts, they were sure to be made accessible sooner or 
later without any request on their part. 
Mr. Baker, would accept the $40,000 with thanks, ex- 
pressing regret at the same time, that the amount was not 
larger. 
Mr. Skinner considers that a reply to Government, on 
the lines of Mr. C. L. Gibson's arguments, simply meant 
querying the accuracy of Government book-keeping. 
Mr. Baker thinks that the whole scheme was really a 
very generous one and surely it was rather early in the 
history of these loans, to demand a statement of accounts. 
He would formally propose, that “the Association thank 
Government for its letter and express regret that the 
amount available was not larger.” 
This is seconded by Mr. J. Gibson. 
Mr. Maefadyen then proposes as an amendment, that 
Government be asked to publish in the Gazette an author- 
itative statement of the financial position with reference 
to the loans, to be repeated every half year. 
This is seconded by Mr. Valpy, but after some dis- 
cussion Mr. Maefadyen agrees to withdraw liis motion until 
the one, standing in Mr, Baker’s name, is disposed of, 
