The Evening Mail. WEDNESDAY, AUGUST 28, 1878.

Oamaru Mail, Volume III, Issue 743, 28 August 1878, Page 2

The Evening Mail. WEDNESDAY, AUGUST 28, 1878.

We have received a copy of the Oamaru Harbor Board Amendmont Bill, lately introduced into the Hcnse by Mr. T. W. Hislop. The measure has for its object the empowering of the 'amaru Harbor B<ard to raise a sum not the LIOO.OOO a rt-ady borrowed and ■ xpended on Harbor Works. It provid s that the Board mty raise the sum of L'2oo 000 iu addition to the LIOU.CH) already raised on mortgage or dehe-ture, on the security of any lands for the time being vested in the Board, and of the rents thereof, and of th--dues chargeable or receivable by the Board, and for snch money it is stipulated that th' maximnm rate of interest p yable fhall hf ■even prr c-nt. per a*>nnm, payable halfyearly. It a'=o provides th-'t in case of the Boar.l piyina the wh >le or any portion of any ?nms borrowed they pball h*ve the privilege of borrowing sumto the same amount provided that the sum do-s not at any time exceed the sum of F>300,000, which wou'd be the total former! by the original LIOO.OOO loan and the L 200.000 now proposed to be raised in addition. In the matter of security for the repayment of any moneys borrowed by the Board, the present Bill resembles " The Oamaru Harbour Board Ordinance, 1874." We are proud that the Oamaru Harbour Board has resolved to carry the work that has already proved such a great boon to the district a stage further. Ihe growing importance of this district, brought, about by the f ettlement and high cultivation of the hinds, demand that our harbour works should be extended and rendered still more effective. What has been spent has been spent well; and we have full confidence that the Board's treatment of any works that may be undertaken, with the object of increasing the usefulness of the Port of Oamaru, will be as jrrd'cion* as it has been in the past. We ought to be satisfied with nothing le*3 than accommodation ?or Home-going vessel* ; for the fact is beginning to «lawn upon tisthitthe boundarii;* of the markets for oar p o»lnc • must extend beyond the On'nw»»-»