The Felding Star. OROUA & KIWITEA COUNTY GAZETTE. Publislied Pally. "SATURDAY, SEPT. 15, 1894. BORROWING TO LEND OR SPEND.

Feilding Star, Volume XVI, Issue 69, 15 September 1894, Page 2

The Felding Star. OROUA & KIWITEA COUNTY GAZETTE. Publislied Pally. "SATURDAY, SEPT. 15, 1894. BORROWING TO LEND OR SPEND.

Our alleged non-borrowing Government have prepared a Bill to enable them to raise money in the Colony from the people. The Colonial Treasurer's Bill containing a scheme of consols iv New Zealand has been issued. It stipulates that deposits not exceeding £1,000,000 may be received bearing interest at 4 per cent. Deposits may be made at any time for any amount, they may be lodged either at the Treasury in Wellington or at any Money Order office, and shall become part of the consolidated fund. Every person making any deposit shall baye bis name entered in a register as the holder of inscribed consols. Interest shall be paid half-yearly on the Ist February and the Ist August. The Registrar, on the application of any holder of consols, may issue a certifi cate in favor of bearer for not less than £5 ; every such certificate shall be transferable by delivery, and shall entitle the bearer to interest on the consols and to the principal when it becomes payable. Upon application by any holder the Registrar may transfer consols to any other person. The interest on consols sball be payable at the Treasury or at a Money Order office. Any person over ten years may become the holder of consols. The Colonial Treasurer shall fix the date when deposits are repay able (but not more than 40 years after the date when they are made] and the rate of interest and the place where the principal and interest are payable.