THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. MONDAY, SEPTEMBER 15,1879.

Thames Star, Volume X, Issue 3348, 15 September 1879, Page 2

THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. MONDAY, SEPTEMBER 15,1879.

The Borough Council, at its last meeting, passed a resolution affirming the desirability of borrowing a sum of £50,000. T,he report laid on the table by the subCommittee showed the proposed expenditure of the sum of £30,000, and on the face of it, appeared carefully drawn up. The altering of the sum to be borrowed from £30,000 to £50,000 necessitates of course a re-consideration of the details. While we approve ot the idea of borrowing, yet the mode in which it is to be expended will weigh considerably with the burgesses in the accepting or rejecting of the loan with- its attendant advantages and responsibilities. The idea of raising a sum of money by borrowing was for some time mooted, bat the event that caused the idea to germinate into the practical form of a resolution was the position of the Council with respect to the Domestic Water Supply. After negociatmg for it for yenrs they at last managed to acquire the sole management of the debt-burdened property, and of course have to devise means of liquidating its liabilities, and improving it that it may be of use to the whole community. Another argument that weighed strongly with the Council in affirming the desirability of the loan, was the knowledge that in a very short time the subsidies paid to local bodies under the Financial Arrangements Act, 1876, will cease, when Boroughs and Counties will have to exist on their local revenue. As a quid pro quo for the intended cessation of the subsidies, however, the legislature I has lately tjiven to the local bodies certain endowments of land, and in addition to that, has extended to them particular advantages in the acquirement by' purchase of native lands. Of course, to take advantage of these privileges, the Borough will need to have at command a considerable sum of money. .Again, it is well-known that in a widespread gold field Borough like this, the local revenue derived from rates and licenses, even with the assistance of the Government subsidy, is barely sufficient to carry on with, and the thoroughfares of the municipality are not attended to in the manner they should be; while a universal drainage scheme will soon become a necessity, if the Borough is to maintain its present position on the hygienic ?cale. These are some of the reasons that have induced the Borough Council to favorably consider the proposition. The sum, first suggested would, in a great measure, meet bur present requirements, but on further consideration of the matter, it was comidered advisable to

borrow tho £50,000, as with such a sum of money available, tho financial affairs of the Borough could bo placed on pormanently secure basis. The payment of interest on such a largo sum is a matter for careful consideration of tho burgesses, and before they assume such a weighty responsibility they should satisfy themielvos that the resources of tho Borough will bear the burden. Tho further report of the committee will be brought up at the next meeting of tho Council, when we may avail ourselves of tho opportunity of Baying more on this important subject.