THE HARBOR LOAN BILL.

Taranaki Daily News, Volume LI, Issue 54, 22 February 1908, Page 6

THE HARBOR LOAN BILL.

SOUTH TARAXAKI PRESS OPINION". Writing editorially oil the Harbor | Loan Bill, the llawcra Star, inter alia. ! reiuarks : ~-Tlie discussion which took | [dace at the meeting of the New I'lvmotith lliirbor Hoard meeting on Tuesday made il abundantly clear that the \ew Plymouth members are anxious to meet the "country party" as (airly as po—ible. with re-pect lo the proposed Bill lo raise £3110.(100 lo pay oil' the bald lice I £135.0(111) of the existing loan and provide new work- at the .New Plymouth harbor. The Dill, a- we have before pointed mil. reprc-ent- a compromise bi-lweci, (he town and count r.v member- with re-peel to the problem facin;; the I'.oard. and the general agreemenu arrived Ml were embodied ill the draft. There were -till some points o! dillViviice. however, but these were -et- i lied CMlclilioll.-lc. . . . Mr. .\| llN . j well regard- the pro.ic-t a- ,; -pleitdid ! tiling for tbe-e areits. and a Una! -cl.le- j ment. Mr. TlMinson opposes the loan ' abselnlely. and prefer- („ ,-ai-e a lo:u ' of £13501111 ito pay „|f Ihe balance if ! the evisluig £2un.llli!l loam, even Ihotuh . "i- uniform rale ~f three farlhltms in . Ill" .' be mainlaiue.l and the harbor r■- i continue 1,1 pav nothiier (o rt ard.interest charge-. Mr. 'lluglie-.' while op. i posing furllicr borrowing, asks: -|f ,iif. i lerential rating i- right under the Cinn.. 000 scheme, why 'ii"l rai-e oiilv the money rcpiiivd. -till on a differential ba-ies. 1,, pay oil' the existing loan;" The answer to this s. V uis to' be (hit 1 lie rate having I n uniformly lixed. no alteration thereto will be sanctioned be the northern districts unless tliev get something in return. The "something :u return" under the new proposal is £IUS.iiiiii for harbor improvements—nlihoiHi the iittere-t on that monev will not have in be jiai.l by rates. Air. .McLean, who i- also opposed to increasing the burden ol ratepayers, agrees that the southern districts!, al any rate, will be belter oil 1 with the new loan that thev are at present. _ We need only add that the compromise seems to secure to the southern districts as satisfactory a settlement as they may ever reasonable hope to obtain. As to the policy of making a deep harbor at New Plymouth, that is another matter. We have doubts as lo whether it would be wise. But if ij.it policy were approved bv three-lifths if 'he ratepayers at a poll throughout the whole district under a scheme bv which the ratepayers at the northern end woiill be prepared, if neeessarv lo ( rate themselves three limes as he'avilv as the southern ratepayers, the case must 1 K - stronger than we believe it to