LOANS TO LOCAL BODIES.
THE SCARCITY OF MONEY.
By Telegraph—Press Association. Auckland, Wednesday
The Prime Minister, replying to a deputation of several suburban bodies on the subject of loans to local bodies, said the Government did not intend to lose anything in granting loans. It was unfair to ask the general taxpayer to make up such a deficiency. Within the next few years the Government had to arrange for the conversion or renewal of £15,000,000 or £16,000,000 debentures, a great deal of which had been raised in London. Until these, arrangements had been made, it was quite impossible to say what could be done for suburban local bodies. It was proposed to remove the £SOOO limitation at the earliest possible moment, but it could not be done yet.
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https://paperspast.natlib.govt.nz/newspapers/TDN19121128.2.44
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Taranaki Daily News, Volume LV, Issue 164, 28 November 1912, Page 5
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128LOANS TO LOCAL BODIES. Taranaki Daily News, Volume LV, Issue 164, 28 November 1912, Page 5
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