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Grey River Argus, Volume XIV, Issue 1735, 25 February 1874, Page 2

In his speech to the Council, the Superintendent alluded to the fact that the Province, so far as its ordinary accounts were concerned, would start its career unburdened by debt, and incidentally mentioned that although not a shilling of the £50,000 advance authorised by Parliament last session had been paid, the late County Chairman had obtained an advance from the bank, and paid off all the outstanding claims. It does not appear, however, that his Honor informed the Council that the Colonial Treasurer had intimated that it was his intention not to issue the £50,000 because of the arrangement made by Mr Robinson. If we are correctly informed, Mr Yogel quite recently stated that as the loan was obtained for the purpose of paying off certain outstanding liabilities, which had since been discharged by means of the bank overdraft, the money was not applicable to any other purpose, and could not legally be used for paying off the bank. Whether this be the legal position of the case or not, it is evident that Mr Yogel is determined to set his face against Provincial Governments obtaining loans by way of

overdraft from the banks outside limits prescribed by the Audit Acts, and the financial legislation of 1867. We do not, however, apprehend that the Treasurer will absolutely withhold the money, but it is as well that the Council should remember that they must exercise considerable care and caution in the financial arrangements, or else they may possibly some day find themselves brought up standing by the Colonial Treasurer.