The New Zealand Times (PUBLISHED DAILY.) MONDAY, JULY 29, 1878.

New Zealand Times, Volume XXXIII, Issue 5409, 29 July 1878, Page 2

The New Zealand Times (PUBLISHED DAILY.) MONDAY, JULY 29, 1878.

Thb long expected report from the Finance Committee was presented to the City Council on Thursday evening ; it was ordered- to be printed, and.-1a..t0;,b0 considered at the next ordinary meeting. It will be seen that the committee recommend that certain Bills should be introduced into Parliament during the present session. It is important that members of both branches of the Legislature, and also the citizens of Wellington, should be acquainted with the provisions of the Bins it is proposed to pass. We think it well to offer some explanation, and afford information likely to be useful, in order to enable a correct opinion to be formed respecting the purport and effect of the measures. . i It is well known that last session a Bui entituled the Te Aro Reclamation Act was passed in the House of Representatives, and read a second time in the Legislative Council; but owing to the late period in the session when it reached this stage ; there was not time to get it through committee and road a third time. It will be introduced again in much the same form os last year. The Council seeks for power to raise the sum of £150,000, and for full authority to deal with the laud when it is reclaimed. Some think none of the land should be sold, others are of opinion that a sufficient quantity should be placed in the market m order to recoup the cost of reclamation, the balance to be retained as an endowment for the benefit of the city for over. We are inclined to think that the lastnamed would be the wisest course to adopt. The debt incurred in effecting this great improvement to the city would soon be liquidated, there would not be a large sum to provide annually to meet the-in-terest on the loan, and the revenue of the city would be augmented by the greatly increased amount of property , on which rates would be levied. The other view of the question taken is that if the laud were simply leased, the rental would more than cover the- payment of interest on the entire loan, and yield a considerable addition to the income of the city. It almost appears like a waste of space to urge one word in support of the'advantage and benefit which must result to Wellington' by this reclamation being carried out in a thorough and perfect manner, and wo cannot suppose for a single moment that any opposition will be offered to the Act. We trust it will be introduced early in the session, so that, if necessary, it can bo referred to a select committee, and the city authorities will be able to produce overwhelming evidence of the necessity for granting the powers sought. The Bill contains provisions for settling in a manner that we hope will be satisfactory to all parties interested the vexed foreshore question. On this point we express no opinion one way or the other. But this difficulty must be faced and overcome, and it can only be done by mutual concessions and a determination to 'do justice, even if it should involve giving up a little laud or paying a considerable sum of money. The value of the land when reclaimed has been estimated at from £500,000 to three or four times that amount. One thing is clear, there is ample security for the small sum proposed to be raised, and it is equally apparent that the transaction will be a very profitable one for the city.** We do not think the City Council should be in any hurry deciding upon any particular plan ; things may alter and change very much in Wellington before the land has been reclaimed and prepared for occupation ; it will be time enough to decide how it can be best dealt with ' when seen in one solid block. It is to be hoped that warning will be taken fro'm the experience gained in the paat, and proper drains built as the work progresses. If this is attended to the benefits will become "apparent almost from the time the work is commenced. The next Bill the Council proposes to introduce is a measure to enable effect to be given to the arrangements lately entered into between the Government and the Corporation for the sale and purchase of the land in course of being reclaimed at the Thorndon end of the city; A provisional agreement has been entered into, in terms of which the Government agree to sell, and the Corporation to purchase, the residue of the land, some seventeen and ahalt acres, the purchase money fixed some £79,000,' that being the sum it has cost, loss the ’ proportion paid by the Government for reclaiming the block of land on which the Government buildings stand, and other portions of land required to be reserved for purposes of public utility. The Corporation seeks for power to borrow £100,000,. as further sums of money will be-required to complete the reclamation, and some £IO,OOO will have to bo expended in forming, metalling, and kerbing the streets and footpaths. The same question will arise in dealing with this reclamation as with the one at To Aro, viz., whether it is best to sell a portion of the land or lease the whole for a long term of years. This is. a question which should be left to the discretion of the Corporation, if local self-government is to become a reality. Parliament ought uot to lay down any hard-and-fast rules. The property belongs to'the city; the Government never advanced one penny to carry out the ‘reclamation ; the funds were raised and are still due to one of our local institutions, and when wo hear of ■the groat credit that is duo to this person and to that individual, wo wonderif ever it is remembered to whom the honor belongs of designing and carrying out the last reclamation. Weknowthat it is considered almost treason to mention the names of the old Provincial Executive—Sir Wxiuam Fitzuf.ubert, Mr. Bunny, and Mr. Hunter ; but on the principle of awarding honor to whom honor is due, wo feel it our duty to recall the past, and while thankful to the. Government for selling the land on what can only bo regarded as fair and liberal conditions, and recognising the valuable services of our worthy Mayor (Mr. Dbansfibld) in helping to acquire the estate, still the past ought to be remembered and old friends not forg°Tho Colonial Secretary has intimated to the Corporation that if the City Solicitor is instructed to prepare a Bill entituled the .Wellington Harbor Board Bill, it will receive the support of the Government. That some measure of this kind is"necessary there can be little doubt. The choice lies between appointing^a separate body or leaving the power to bo exercised by’the City Council. Much riifrht be said on both sides; but the evils attendaht upon divided authority are known to-ho very groat, and the balance of testimony gamed by the experience of the working of two bodies whore one would be sufficient loans in favor of the administration centreing m a single power.. .This particularly applies to the port of Wellington, where there are so few difficulties m the way of proper management. Even in the past: although tlio Qnoons wharf and the Queen’s , bonded warehouses are in ' reality outside the limits of the city, still the Corporation has had the control • of the wharf and the warehouses, and the result has been,on the whole satisfactory. No doubt im-

provements can be effected. More wharf accommodation is urgently required, and greater faoilitiesfor storinggoods; wharves at the head of the bay and in front of (he quay facing the old Provincial buildings ought to be erected, and docks for the convenience of . those engaged in building and repairing vessels. Many of these advantages will no doubt follow the To Aro reclamation ; and we presume the Harbor Board would have power to raise money on the security Tpf the wharf and warehouses built, or to bo built, and, if necessary, to pledge the rates, subject to existing engagements. If it is intended to keep pace with the times,'if Wellington is to becomd-tho great central depot from which supplies are to be distributed north, south, east, and west, two or three good substantial wharfs ought to be erected at once. It is absolutely necessary that the traffic along such streets as Custom Houserquay and Willis-slreet should be diminished. When the tramway commences running there will be a constant block in Willis-atreet. Why should all the coal, timber, etc., that have to be carted to the head of the bay be landed a mile or more from the ’place of consumption. The answer is simple, because there is but one wharf. Two wharves at Te Aro, they need not be costly or expensive, would correct the evil, which everybody admits exists. It is scarcely necessary for us to call attention to the fact that a large number of the streets in Wellington have never been formed or made, and that in nearly all the loading thoroughfares the streets are in bad order and require extensive repairs. We understand that this subject has been engaging the attention of the Council, and that it is intended to ask the ratepayers to allow the Council to impose a special rate to secure the payment of interest on a loan to bo raised for the special purpose of making new roads and repairing the old. If the ratepayers will give their sanction, the money can be raised as it is required, under the regulations provided in the Municipal Corporations Act, 1876; there will be no occasion to apply to Parliament for special borrowing powers. The statement of accounts published, we are informed, was scarcely correct, the overdraft on general account is now only £20,934115. Gd; andonthe 25th July, 1878, the Corporation had a balance of over £2OOO at its credit in the Bank of New Zealand, and a sum of £48,000 is lodged with the same institution as a fixed deposit. A considerable amount of the general and water rates for the current year have been collected, and the wharf tolls have brought in a large amount. The liabilities under contracts for works yet tq be executed amount to some £11,766 10s., against which and to meet other expenditure some £30,000 will be available during the course of the year. Several unexpended balances on special accounts have become merged into the working account; but this effects a saving, as there is no interest to pay on the overdraft. '

Before leaving this important subject, it may be well to point out the small total indebtedness of the city of Wellington. The session before last a Bill was introduced entitnled the Wellington Consolidation Loan Act. Various small loans had been raised, and it was thought advisable to discharge these and commence on a better system. Power was granted to raise £200,000, of this £48,000 is still unexpended, and this was obtained the moment the loan was offered by the Bank of New Zealand ; indeed, a premium was given for the debentures, and recent quotations show that an advance of 2 per cent, has taken place within the past two months. We aie satisfied the £250,000 required by. the Corporation to reclaim the land at Te Aro, and to pay for the land already reclaimed at the Thorndon end, will be- obtained without any difficulty as soon as the Bills have been passed by Parliament. The business of making and repairing the streets is a local matter, and can be dealt with hero, but there must be no halting or further delay, these works and the drainage scheme must, be proceeded with, and an additional - supply of water' procured if it is necessary.