THE PROPOSED BOROUGH LOAN.

Manawatu Standard, Volume IV, Issue 36, 10 January 1884, Page 3

THE PROPOSED BOROUGH LOAN.

Mayors Reply to tt>e Times. After' tbo "ordinary business of tjj.e Boroughs JOounicU had concluded, last nijjlre^T&Ss'' llieAlaVor stated thjusejjad matter tQ bring benu'i oe^iCfewtt6il; A= leadetptte had appeared m ,^e ]^a^ftwattt. Times reflecting qn tHe manner m vhich tjje propqse.d. Bprpugiji .Loan had been put before >he ratepayers." Mayqr pi tii9 ®6rotigli he' would' not allow the statement to go .unchallenged, as it wt^ likelj£3ft^ff«jJt the yuteajqf . tat^ayfjrs. fl[p 4id not think j..fc would haviß bpeft djg^i%Ba ( fe^bjin, lQ hayp vWr^tef» ,tp $& papprsl "He bar} recced ,bi» answer to article to writing,; which he expected would appear ia the papers on the following day. ' '..:...■>•'■ ■ ... /

Mr Snelson then read the following : - . In a sub-leader inserted m the Tiuu's of the .7th inst., referring t« «^e l>u» llc meeting which I convened to consider the " loan proposal*, 11 the wditor says the advocates of the scheme challenged the statement that the Council could strike rates up to 2/- m£, and then ho proceeds to shew that the Municipal Corporation Ac), 1876, limits the general rate to 1/- m t-he £, but that separate rates may likewise be made equal to 1/- m Lh& £, or a total of 2/-. The statement challenged at the public meeting was to the effect that tho Council had power to strike a rate of 2/- m the pound for ordinary expenditure. No one can deny tliat the burgesses have the power to rate themselves tor special vrorks, hilt this power does not m any wayliflect the question at issue, namely, " How the ; ordinary expenses of the Borough were to be provided for, ' as rates raised- for special works must be expended on such works, and m po other way. The summing up up of the e&ior that the challengers, ,• were not awire ot^the legislation .under' Boroughs were worked,' or'that We distorted facts to meet the exigencies of the moment, is not certainly ftue. ,1 would also allude to statements made m the leader of the same newspaper on the same day, which would induce one to suppose that the annual revenue of the town is to remain at it* present figures, whereas past experience shows jkhatevery year since our incorporation, an increase^. steady but true, has taken place. We as a Council thereforeJwl justified m believing that by the judicious expenditure; of the proposed loan a much! IKrger increase will arise, providing;!* margin quite ample and sufficient for working expenses.; and m conclusion, I .would remark, during the time the greater portion of the loan -was unexpended, -and before, this said .increase could be expected, "the interest esfc derived from such portions would, added toy/ the; balance; of ordinary* revenue available, fully (supply the • requirements for ordinary expetces. Tbisjit nvusfc be noticed, has been only casually alluded to and carefully ignored m the total arrived at.. ■■■>•'■■ ■■'■■■■■>■■ '■