WAR LOAN CERTIFICATES.

Pukekohe & Waiuku Times, Volume 5, Issue 208, 12 September 1916, Page 2

WAR LOAN CERTIFICATES.

Proposed County ment. At the meeting of the Franklin County Council last Thursday Cr Lyons made an ingenious proposition towards assisting the Government in raising the current War Loan and at the same time securing an investment that; would well repay the ratepayers five years hence, when the loan certificates would be redeemable. His suggestion was that a special rate to bring in £4OOO should be levied and loan certificates to that amount purchased, thus ensuring help to the Government for the present and a profit t> the Council of £IOOO in fiveyeara' time, when the certificates would be repaid. He proposed that the Government should be communicated with on the subject and asked to legislate in that direction if present powers did not permit of .-uch a rate being struck. Cr Wilcox seconded.

Cr llenry considered the course suggpsted by Cr Lyons unwise. It appeared to him like as a vote of censure on the ratepayers, who had really subscribed well. While admitting that Cr Lyons' proposal was a brilliant one, Cr Lockwood added that the time would be opportune to discuss it after the information as suggested by Cr Lyons came to hand from the Government.

Cr Lyons intimated that public meetings could be held before a definite decision was arrived at.

On the motion being put to the meeting it was carried, Crs Woods, Motion, Lockwood, Lyons and Wilcox voting for, and Crs Henry, Higginson, Renall and the chairman against.