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Dunstan Times, Issue 977, 7 January 1881, Page 2

j A short time ago the Dunedin Times took occasion to sneer at the financial posi'ioaof this County, because in the bi-mon f hly report of the Treasurer it was set forth that the ** contingent !i;tbrl?!i-R " —that is liabilities on contracts in progress—amounted to about LI 1,000, and the Bank Balance in hand to LI4OO. The former the Times desig-, natead “debt ” being apparently unaware that money is not due till work is performed -—thereby perpetrating a ludicrous blunder.

This week we have the Municipal Account of the Dunedin Corporation before us, from which wo learn that the total liabilities of that city total up to L 309.273 whilslAhe credit Bank Balance is jbat L4B, 18a 9d 1 And of this large liability only L 152 is for contracts in progress ; whilst 1,198 represents "contractors deposits.” The balance of nearly L 309.000 is actual indebtedness, representing work done, and liabilities—«of Contityjent - incurred. As against this there is a sum of L14,?05 to the credit of the "Sinking Fund." Now, We have no intention to insinuate anything to the prejudice of the City Corporation finances, which webelieve to be.in a sound condition ; but if the balance sheet were teste I by the peculiar financial notions of the Daily Times, as displayed when commenting on the affairs of County Vincent, how would it show for Duucd’u 1 We wonder if our contemporary is as capable of discerning the actual palpable "beam ” in its Dunedin eye, as of espying the imaginary "mote” in the eye of Vincent.