THE TARANAKI COUNTY LOAN BILL.

Taranaki Daily News, 12 August 1919, Page 4

THE TARANAKI COUNTY LOAN BILL.

To-morrow, the ratepayers in the Omato, Omata, Waitara, and Mangorei ridings of Die County of Taranaki, are called upon to vote on the Council's proposal to raise £40,500 for road improvement and purchase of plant, the intention being to tar-seal the main roads in the ridings mentioned. We have already stressed the fact that, as a good business proposition, this proposal should commend itself most conclusively to the ratepayers. After the experience of the F.lthara, Waimate, nnd ITawern Counties in raising large loans for tar-sealed roads, the settlers in the Taranaki County should not hesitate a second to follow these Councils, which, in their wisdom took this important step several years ago, and are to-day reaping the fruit of their far-sighted-ness. Had the Taranaki County adopted a similar policy at the same time as Us neighbours, the cosjt would have been very much less than is the ease to-day, and the money could have been obtained on favorable terms, and without any difficulty. Notwithstanding that handicap, the policy is just as sound today as it was then, though the expense will bo greater. Ratepayers, however, should recognise that by borrowing money for making the roads sufficiently strong to stand' the fa3t motor traffic, they aro acting on tho host economic principles, and the saving in annual repairs should be such as to enable the County to easily pay off the loan in twenty years, and have something to spare for the improvement of the side roads. Admittedly the first cost is large, but when the cost is spread over the number of years that the roads will last, only needing a moderate sum for upkeep, the relief to the ratepayers is evident. On the other hand, if tho proposals are turned down the voters will be cutting a rod for their own backs, for they must be rated up to tho hilt, and the Council's overdraft be extended to the utmost limit. Moreover, it should be remembered that n now valuation cannot be much longer delayed, . and under that upkeep of roads out of revenue will' fall heavily on the ratepayers, and- the byroads will continue to Buffer, whereas if the loan is carried in each riding the by-roads can be improved. It is.not as if the proposals were experimental, for they have proved successful elsewhere. As the loan works are to take four years, tho money will be called up in four instalments, thus saving interest meanwhile, so that of the halfpenny rate to provide interest and sinking fund for redemption of the loan in four years, only a fourth will be needed in the first year, and the balance as the loan is raised. By carrying the loan the ratepayers will at once get a measure of relief from the general rates, for during construction there will be no upkeep charges over the portion in hand. Without doubt the proposals on which the poll is to be taken tomorrow are such that their rejection would seriously reflect on the good sense of the voters, and when the Government deals justly with the Taranaki County in the matter of improved subsidy, the latter will be in a position to enjoy to the full the benefits derivable from modern, permanent roads.