Our Letter Box.

Taranaki Daily News, Volume XLVII, Issue 7801, 18 April 1905, Page 4

Our Letter Box.

(We are not responsible for opinions : expressed by correspondents.) BOROUGH FINANCE. (To the Editor.) Sir.—l notice your contemporary, in a leader on the- Borough sheet, expresses doubts as to whether the rates of last year will' be able to keep up the repair*, of the town now' that the borrowed'money is nil spent, and asks whore will the balance of the moneys cone from' now ;that the loans are short of completing the works in hand, and concludes by saying, "At present there is no indication of a desire on the part of the ratepayers to know anything ol Borough,business'." Had* the fate'payers been told that last year the ICouncul spent £I7OO ofkran moneja which were borrowed for stfrect im'provements on the ordinary upkeep of jthe town, and are now spending for | the same purpose over £7OO out' of . overdraft, making a total of over £2400 in aid of rates, it must be ,quite clear that an additional rate will be required, or the streets allowjed to go out of repair if the present I Council, is returned and can do no |beititcr than last year. Then again, I your contemporary did not tell the ratepayers that the Mayor and Cduncil failed to float £38,000 ofdi-ben-t-urcs at 4j per cent when money could be had at that rate and have been compelled to hypothecate them to the bank, at DJ per cent, receiving only £34,000 in cash, thus leaving tho loan £4OOO short, which added to tho shortogc oi £1933 on electric light. £3325 on waterworks and allowances for extras which he points out arc not provided for will approximate a total deficiency of about £IO,OOO that will be required to complete the works in hand* Had this statement been made ratepayers might be more alive to tho position into which the Mayor and Council, 'by their incapacity have drifted the Borough.—l ani, etc., WATCHMAN.