LOCAL BODY LOANS
FINDING OF MONEY
POSSIBLE FUNCTION OF
STATE
(By Telegraph-l Ji;ess Association.) OAMARU, This Day.
Speaking at a local bodies' dinner last evening tlie Prime Minister (the Rt. Hon. M. J. Savage) said the time was coming when local bodies requiring capital moneys for necessary works approved by the proper authorities would have to be assisted by the Government. Under the present system local bodies were at the mercy of those who lent money at rates of interest higher than should be paid. It was absurd that after the Loans Board. the Treasury, and the Minister of Finance had approved expenditure on really necessary works, local bodies should be hampered by inability to get the requisite finance to carry them out. The time was coming, and he hoped it would not be long, when the function of providing . such money would be assumed by the Government. .
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https://paperspast.natlib.govt.nz/newspapers/EP19370226.2.106
Bibliographic details
Evening Post, Volume CXXIII, Issue 48, 26 February 1937, Page 10
Word Count
148LOCAL BODY LOANS Evening Post, Volume CXXIII, Issue 48, 26 February 1937, Page 10
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