THE HARBOUR LOAN BILL.

Taranaki Daily News, Volume LI, Issue 66, 7 March 1908, Page 6

THE HARBOUR LOAN BILL.

iSOL'TII TAItAXAIvf PRESS COMMENT. A lucid and comprehensive review of the main features of the. proposed New I Plymouth Harbour Hill, and what would be the cited if the new borrowing scheme is not approved by the ratepayers, was given by .Mr.' C. .McLean at the meeting held in the Mannia Town Hall, says file Haimale Witness of Wednesday. from the figures quoted, continues the Uitness, it is apparent that the country members, .Messrs. .Maxwell and McLean, who for many years have fought vigorously and successfully against all attempts to increase the burdens of the ratepayers, have now gained concessions which must not he despised. While it is contended with reason and justice that this district, not using or deriving any beuelit from the harbour at New Plymouth, should not be rated for its maintenance and extension, the fact is that we have got the burden tied tightly round our necks, and as there is no 'possibility of the cord being unloosened we must lie patient and strive unitedly to get the best terms possible from the powerful interests at New Plvmouth. The proposed Hill, as explained by .Mr. .McLean, oilers a material easement of the burden. Summarised, it means exchanging a %d level rate for a 'Ad differential rale, the former lieing on CIOIIO and the latter £141)0. Hy the concessions obtained the actual position is that only about l-lllld will lie demanded, representing a reduction of from CI paid under present conditions to only Is lid. The figures showing this advantage to local ratepayers have been carefully computed, anil it may be taken for certain that when the champions of the

countrv interests, as .Messrs. .Maxwell and McLean have all along proved to be, are favourable to the Hill, no ratapaver need be afraid of approving it The Hill provides for more loan money for harbour extension, or, as Mr. Hughes characteristically put it. money for New Plvmouth to play with, hut it will not cost the ratepayers at this end anything. It is a sop to New Plymouth to

favour a Hill which gives concessions to ihe outside districts. Then, finally, it

is considered by some that a sinking fund should be provided for in order io give limility to the loan. Against this Mr. Mclx>aii pointed out that the ralepayers would have to pay the sinking fuliil. and in view of I lie anticipated large increase in land revenue and endowments a rate would hardly be needed. If it was it would be so small that it would be hardly worth collecting. " The loan will practically lie dead so far -as rates in this district are concerned '' was his summing up of the position. In face of the facts and ligures produced, and the clear proposition that the ratepayers in this district secure material advantages, there should be an overwhelming majority in favour of the Bill.