The Manawatu Standard (PUBLISHED DAILY.) Suivant la verite. MONDAY, OCTOBER. 8, 1883. THE BOROUGH LOAN.

Manawatu Standard, Volume 4, Issue 261, 8 October 1883, Page 2

Manawatu Standard (PUBLISHED DAILY.) Suivant la verite. MONDAY, OCTOBER. 8, 1883. THE BOROUGH LOAN.

Father news from the, London money market is of a still more encouraging tenor with regard to the - prospects of our Borough , Lpan ; being \ success- uily " "_o_ted. By our cable news it will be seen that a Melbourne Municipal I^p hss beep subscribednearly twice over I This,, too, notwjth-standi-g^ecentbbmmercial failures brief a threatened financial crisis. We are inclined to doubt the expediency of fix- - ing the amount ati too small a. limit. We may say at once that we believe a loam 'for* 250,000 would" tie taken u j> quite as readily, &s one for say half that amount, The existing debentures would absorb 'say 1 for they would have to be proviijed fop m some way; then ther,e ' would be £40,000. available. The loan might be allocated thus :— Existing Debentures,- (pro- | vision for) ... ... £10,000 Street, Formation.'..- ... 12,000 Gas or J_lectric. Light ... 10,000 Water Supply . ...< ... 10,000 Drainage oompletipn • „. ' 8,000 i£SOJOOO At 4| .per cent., the interest would . be fund would increase the yearly liability by ~ £1,000. The future must be considered. The- j borough must provide for the requirements of the large centre that is to be. The amountsuggested carefully administered would convert the existing town into a city. With good streets, sufficient drainage, aniple water supply, and gas or the electric KghV wiih the present geographical position of Palmersjjbp, who can realize what a change wi}l be e^qtefj. An 4 what ■„ would £50,0Q0 be m t|jp w^y. of Jiafellj^ f iauiinere bu|atelle;' Wi% pur popplation trebled/^t wppld -never be Suppose the rates were doubled, wb^o Tyould-cotepiairiwith guch'bpnefits as *^e .exppndjture ensure,

trust our City Fathers will not decide too precipitately on the amount of the £2,250, and a two per cent, sinking loan. Let them look ahead ten years at least. We are a progressive community, as was remarked at a recerlt meeting, and must keep moving. We shall deal with the same subject at .greater length, m subYeqUent artioles.