NEW FINANCE SCHEME.
. i helping local bodies. THE SINKING FUND QUESTION. By Telegraph.—Press Association. Wellington, Last Night. ' Replying to a deputation to-day .Sir .Joseph Ward, speaking regarding the 1 State Guaranteed Advances Bill, explained tliat the old system of lending to 1 local bodies was to be rc|>cnlcil, and he wished to «iy quite frankly that the Government had not the slightest intention of embodying the sinking fund f: ptinciple of the old system in the new V and larger scheme. Some of the local H bodies wanted i' 50,000 and over, and <*l t.hey were being strangled at the pre- P sent time because they could not get the money. Tlicy could, however, ob- ei tain it under the new system, and at 'a a reasonable rate, Anyone who thought .the country was going to be saddled w with a sinking fund under the new to system was making a great mistake, ev lie did not think it would be possible to include the harbor boards without rating powers in the Bill.
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Taranaki Daily News, Volume LII, Issue 230, 3 November 1909, Page 2
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173NEW FINANCE SCHEME. Taranaki Daily News, Volume LII, Issue 230, 3 November 1909, Page 2
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