THE GLOBE. SATURDAY, JULY 22, 1882. M. JOUBERT’S WHITE ELEPHANT.

Globe, Volume XXIV, Issue 2587, 22 July 1882, Page 2

THE GLOBE. SATURDAY, JULY 22, 1882. M. JOUBERT’S WHITE ELEPHANT.

It is greatly to be regretted that the question of the remunerative or nnremunerativo result of the speculation entered into by Messrs. Joubert and Twopeny should have been given the prominence it has. Indeed eo far as the matter under discussion is concerned, we cannot help thinking that the public neither wish to know or care either one way or the other. Granted that the firm have made £9OOO or even £IO,OOO, what is that to do with the Christchurch public t Equally on the other hand, if the loss has been £IO,OOO the residents of Canterbury will he not one penny the worse or better. It does therefore seem to ns so Juvenile that a large proportion of the space of the local journals shonld be occupied day after day in discussing the point whether M. Joubert has made money or not. The question as to the retention of any portion of the building on its present site has, we take it, been, settled at once and for ever. The public has declared very emphatically that no such step shall be taken. This, therefore, cannot coma in as a factor in discussing the point of profit or no profit to the promoters, and we cannot but think that the whole correspondence on the subject has been ill-judged and entirely unnecessary. We had given M. Joubert credit for more astuteness than to be drawn badger-like by an anonymous letter giving what must of course be hypothetical figures. As M. Joubert himself said at the Parliamentary luncheon, whether the promoters have made or lost money is no affair of ours, it is entirely their own private business; one might as well publish au abstract of the books of any mercantile firm in the city, because some person thinks fit to write a letter saying that the particular firm in question had netted £20,000 in in the year. We hope that now an end. will be put to what is nothing more than a useless discussion, and that the Exhibition will be allowed te close without the unnecessary parade before the public of the financial affairs of the promoters, with which beyond themselves and their banker no one has the slightest business. If a balance-sheet wore published, certified to by two accountants resident in the city, showing that the promoters have lost thousands of pounds, it would not make one iota of difference to the public decision on the matter of the building being purchased for retention on its present site. Shonld such a result be shown, the verdict would be that somewhat selfish but exceedingly expressive one, “ Serve them right.” It hao been urged that the publication of a balancesheet alleging a large profit to the promoters, will have a damaging effect on the proposed sale of the building, to which the. promoters contend they must look to. recoup their loss on the general account. Now, when one looks into this, it is at once seen how thoroughly fallacious thoargument is. It is not likely that the price par foot of the timber, or per ton. of iron, composing the edifice in Hagley Park will be effected by a single shilling by the knowledge that the promoters have either lost or made money. Th& persons who will attend to purchase will proceed on no sentimental grounds of" compassion for loss sustained. They will be enabled ta reckon up tho value of" the article submitted, and upon that basis,, and no other, will their bids be made. It is therefore absurd to endeavour to introd ueo the element of compassion into what will simply he a strictly business, transaction.

THE WATER SUPPLY POLL. It may he aa well to remind the rate* payers that the poll on the subject of the loan for a water supply takes place on Tuesday next. We do not propose on this occasion to travel over the ground,

already pretty often traversed as to the benefits likely to accrue to tho city from the possession of a well considered scheme lof water supply, but it may bo interestng to note how it has succeeded elsewhere. The Wellington water supply has cost something like £200,000, and and yet the revenue is such as very nearly to cover the interest and sinking fund of this large amount. Just let us apply this test to Christchurch. Here the revenue derivable from the sale of water to factories, &c., would he double, or even more than that, when compared with Wellington. We have here established a large number of industries requiring motive power, which they will gladly use far more extensively than at present when so economical a motor as water can bo obtained. Thus we have a scheme to cost £60,000 or £65,000, as against one coating £200,000, with tho certainty, in onr case, of a far larger revenue being received. Another instance is that of Oamam, where the works constructed have been found too small, and the Corporation have consequently made arrangements for extensive enlargement. Despite the fact that the work was somewhat costly—far more so in proportion than what tho Christchurch scheme is likely to come to—the returns have paid a very fair percentage. We mention these facts because some of the ratepayers seem to have imbibed the idea, industriously circulated by Mr. Clarkson and others, that a water supply means increased taxation. When they say this it is true—to a certain extent. They do not tell the ratepayers that though they may have an extra lid in the £ to pay for the water supply scheme, they receive a much larger return in the shape of reduced insurance premiums, reduced coat of maintenance of tho fire brigade, ■flushing channels, &c., besides the revenue arising from sale of water. This is what we wish to impress upon the ratepayers, that in their own interests it will be well for them to carefully consider and weigh over all the aspects of tho question before recording their votes, and not allow themselves to be influenced by statements which are only half the truth. In conclusion we trust that all who have the prosperity and advancement of Christchurch at heart will lend a helping hand on Tuesday next to make an improved water supply for the city an accomplished fact.