The Guardian And Evening Star, with which is incorporated the West Coast Times. MONDAY, JUNE 7, 1926. WESTLAND ASSETS CTILISED

Hokitika Guardian, 7 June 1926, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. MONDAY, JUNE 7, 1926. WESTLAND ASSETS CTILISED

Tin-: morning paper at Grcymoutli on Saturday through its editorial columns further developed its usual “set” against anything pertaining to Hokitika. The immediate purpose of the article appears to have been to demonstrate that the Gre.v Power Board bad some interest right to the hydro-elec-tric power .scheme in North Westland, which the Westland Power Board has shown n disposition to move in. The Westland Board by the way has moved very circumspectly in regard to electric current for the district, and the result is tlm. the people are not saddled with a costly and inadequate plant, in regard to which there is always the rating burden to he borne in mind, with additional liabilities looming ahead to make an .«»inadequate plant, adequate, so that the loss or burden might- not be a hopeless one. The newspaper .‘teems to think that inactivity in the past is a reason why the Grey Board might step in and appropriate a source of power which essentially belongs to Westland. It considers that Westland has taw assets left for the reason it remarks, namely. that the public men of Westland have parted with some “assets” in a way that would not hear investigation. The implied stigma by our contemporary seems to be-part of.its stock in trade for argument, but the innuendo it would make in the catalogue of matters it re’ers to. is without the slightest justification in fact, as the people of Westland well know. To give color to the* suggested story behind the disposal of Westland “assets,” it enumerates some cases where developments have followed as a result of the parting with “assets.” The value of an “asset” is its possible use as an

earning entity. If a man were marooned on Treasure Island, and he had all the gold of Midas, with no means to use it for bis comfort or existence, what would he the value of such an “ns'.et” ? The “Xrgtis” refers to the potential value of the Lake Kanieri water-race. It was constructed by a company which .exhausted its resources, and was glad to sell it in the end for what it could receive, as the race had outgrown itsusefulness, and was a liability rather than an asset. The race passed into other hands which used it for a purpose, making it more valuable than ever it was, but a fresh enterprise had to be created to give it the value. The Harbor Roarcj bad to part wjth its

endowment land because the Government demanded the money loaned on the land, jind in respect to which the Board could not pay the interest. The land was sold in point of l'ac-t by,the Government, not by the local body. But even as it was to the Highest bidder in public competition, and the community is the better off because the safe to private enterprise turned - a dead liability into a live asset. With the proceeds the Board was able to improve the port so that when a water front strike prevailed, Greymouth and all Coast towns were fed through the port of Hokitika. The “Argus” suggests the land is now worth £230,000 as against £28,000 which the buyers gave, hut enterprise gave the enhanced value. With the enterprise a township has been built, an industry established which spends thousands of pounds among the community, and a trade was established which was the chief feeder'of tine railway extension south. The utilisation of the asset was well worth while in the community value derived. - In the same way with the Bold Head road tramway, no industry was established in Boss which gives the town a more assured future than ever it had, and the stability accorded brought hack life to a centre which was fast decaying. As icards the electric lighting of Hokitika, the people here are the host judges. We should say there is mil another town in the Dominion mr the asme “wicket” as Hokitika by the utilisation of the “asset” the Argus catalogues. The people have cheap light installed without cost to the people, and with no shadow ol a rating burden to make up any deficiency on receipts. The actions of public men in Westland in dealing with public “assets” are recorded in the clean and wholesome history of the local bodies of the district. There has never been any suggestion of graft such as our northern contemporary seeks to imply. The locad bodies have been ready to assist and promote public enterprise in whatever part of Westland development was attempted. Westland lias welcomed the opening up of the country, and in quite a reasonable way has worked to that 'Olid. What has been accomplished has been gained without placing any burdensome debt on the community. There lias been no overloading present or prospective to destroy confidence, and it would appear the Westland Power Board, composed of men of the usual category in Westland, will lie as circumspect. They are not likely to rush into any wild cat schemes, or saddle the people with any expensive propositions. The Board has moved circumspectly without attempting to build up a load of debt, and is in the happy position today of regarding the future with confidence, and not with panic. The Board may he trusted to safeguard all public interests in the district, and such evidently was the local feeling for only last month the entire Board was re-clected unopposed.