LOANS FOR HOSPITALS.

Shannon News, 13 October 1925, Page 3

LOANS FOR HOSPITALS.

The managing-secretary (Mr. A. J. P.hillipps), suggested to the Palmerston North Hospital Board last week that in financing - future capital works, the Board should adopt the principle of borrowing on a maximum period of 10 years, instead as has been previously done, for a period of years. The advantages Of the short term loan were pointed out by Mr. Phillipps to be that local bodies would receive a subsidy of £ for £ on a great portion of their contributions than they would, receive if levied for a long term, as the Government faced £ for £ subsidy on moneys spent on capital works, but only paid 14/- in the £ on moneys spent to pay interest. | The proposal is to be submitted to the contributing local bodies for con-' sideration. . Mr. G. A. Monk remarked in con-) nection with the proposal that a point; to be borne in mind was whether i theSe short-dated iloans would not be making things too easy for posterity which would receive most of the benefit of the works that were carried out.