UNKNOWN

Taranaki Daily News, Volume LIII, Issue 197, 29 November 1910, Page 3

UNKNOWN

To the j.i. " 1 ; Sir, —You are to be coming fd for your action in drawing attention a few days ago to tlie exact state of affairs in connection with Borough finance. It is quite true that in spite of the fact that some £ISOO of electric light earnings have been swallowed up in the gen-. ; cral funds the Council has not held its : own, and yet in the face of this we have proposals before the Council to mortgage the next two or three years by getting the authority to overdarw several thou- ; sands, or, as an alternative? to get authority for another loan. I will,deal with the first proposal first, and would ask why the Council proposes to handicap the rates for two or three yearS' and leave nothing for contingencies by overdrawing to the amount stated in view of | the, fact that had it not been for the great assistance from the electric light fund they would have been to the bad • about £2OOO. As I understand the electric light fund is to be used as it should always have been, viz., to further improve the electric service, the Council will, only have the yearly rates to deal with. Then it follows if the Mayor's [' proposal is carried out that his successor, who ever lie may be, will quickly find himself in "queer street," and there will be nothing for it but a rise in the rates to ft considerable amount. And now for the proposal to raise a loan . for the purposes indicated. Well, Mr. ■ Editor, it seems too funny for words that the Council can for a moment imagine that the ratepayers will, under' . present management, sanction another loan to be squandered like the last one was. Just fancy £6OO for extras in the foundations alone of the Powderham street bungle. No, Mr. Editor, if the Council wish to regain the confidence ol • ratepayers it is not to be done by increasing the overdraft or raising another loan, but by rigid economy and insisting on getting value for the rates spent, as any one who takes the trouble ■ to think and see can come to no other conclusion but this, that never in the history of Borough management has so • little real benefit been shown for the money spent.—l am, etc., POWDERHAM STREET.