BOROUGH AFFAIRS.

Feilding Star, Volume XVI, Issue 258, 4 May 1895, Page 2

BOROUGH AFFAIRS.

" Wont You Walk Into My Parlour." Sin, — Tho ratepayers of Feilding are asked to sanction the raising of a loan of £900 for the purpose of erecting Municipal Buildings, on the plea that instead of paying ±52 a year, as we now do, for rent, we shall only require iMS for interest on tho loan. Moreover, we are told that the special rate for this interest will never be enforced, It must be remenaberad that the due passing of a reso - lution to borrow is like signing a bill of exchange or promissory note. The per«on requiring either of the latter may tell his debtor that it is only an acknowledgement of the amount owing, that it will remain in his cash- box, and that he can pay it whenever he is able. But should necessity arise, and the bill be endorsed over, the party Avho signed must pay when called upon. This will be the position of the ratepayers if they carry the resolution to borrow. There is no probability that any future Mayor or Council will " earmark " £45 for interest annually out of ordinary rates; yea, rather, they will only be too glad to throw the amount into the general fund, where, I fear, it will be sadly wanted, and the rate will be levied. To me it seems there can bo no valid public reason why the offer of the " Colonists' Land and Loan Corporation " should have been refuged by the Borough Council, or why they were in such a hurry to accept the site at the corner of Stafford street and Kimbolton road of their own motion, unless it was in the nature of a strategic move. There are works of ti far more urgent nature demanding attention, as for instance, a general scheme of river protection, town sewerage, and waterworks, to which may be added the lighting of the. town by gas or j electricity in the near future. Every loan needlessly obtained now will be a hindrance to theso more important matters, and will make the cost of raising them more burdensome when they are undertaken. We are now paying rates to the amount of 12£ per cent, of the letting yalue, which does not leave much margin for the undertaking of the important and necessary works enumerated by me. It is true that some of them will yield a revenue, but the money will not come in the day after the first sod is turned. I hope that by some means we shall be enabled to fall back upon the offer of the Colonists' Land and Loan Corporation. I ana, etc., C. L. Maclean.