THE LOAN BLUNDER.
Concerning the loan blunder Mr J I Djwnie Stewart, M H.R., who is a very | high legal authority writes:.-"! find from the last Dumber of Hansard, whioh reaohed me yesterday, that the no fortunate section 19, m the Million Loan Aot, was introduced by message from the (governor on the last day of the seesion. This dreams* anoa aho«a tint the aeotion was prepared by the Govbn tnent, and as It was not amended In Committee, they are reapons ble for the wording of it Ttie »ff ot of tie section (■ (1) to render It illeg* l to raise the million loan m the UnitecKingdm before 31at March, 1891; (2) to prevent the raising of the North Island Trunk Railway loan there before that day, unhes a pledge ii given not to borrow the million before 31st March. 1891 The provisions of itoton 19 oennot be dieiegarded, aa has been soggested la certain quarters. And if any attempt to do so is made, a tenderer wonld obviously h*ve a right to charge the colony with bad fiith
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Ashburton Guardian, Volume VII, Issue 1763, 10 February 1888, Page 3
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180THE LOAN BLUNDER. Ashburton Guardian, Volume VII, Issue 1763, 10 February 1888, Page 3
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