THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. TUERSDAY, JUNE 10, 1880.

Thames Star, Volume XI, Issue 3574, 10 June 1880, Page 2

THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. TUERSDAY, JUNE 10, 1880.

Th;e scheme of local finance brought before Parliament by Major Atkinson in his financial statement, brings out several striking particulars—in fact, foreshadows a complete re-organisation of the system iof granting assistance to local bodies. The- system of granting subsidies was found to be working most unequally—-as the large towns in the colony grew rich, while sparsely settled districts, especially places like the Thames, where the greater part of the land is stilt voder Native tenure, and where the need of intercommunication was great, did not benefit by the system. This state .of things the Government are now going to remedy, and in order to give effect to their intentions propose to introduce two bills jnto the House—the first being an Amendment Bill, and will be for the .purpose of rescinding former Acts restricting the ratepayers! from levying rates beyond a certain snm. It will enable boroughs, counties, and other local bodies to borrow to any extent they may think proper—the amount so borrowed to be paid back with interest'at the end of a given time. The restrictions with regard tojthis portion of

the proposal ere that intending borrowers must , r first levy „ a special raU, extending over the time allowed for the repayment of the required money sufficient to cover the interest and sinking, fund. All money must be obtained from within the colony, end borrowing in foreign markets will be repressed. The rates accruing will. be further increased by the rating of Government property, such as post and i telegraph offices, police stations, court buildings, etc, and all the waste lends of the Crown will be lieble to be ratec 3. This clearly shows that the Government arc perfectly willing to pay for works by which they are benefitted, at the same rates as the rest of the community. By this'scheme it willf.be seen that the whole of the colony will be on an equal footing as communities borrowing money will be compelled to pay it back by yearly instalments, and they will be careful not to borrow " more than will actually meet their requirements. The second bill to be introduced is entitled the " Local Public Works Bill." AH Maoil lauds and property will be subject to the same rate as that owned by Europeans. This is a very wise measure, as up to the present time Maori land proprietors have enormously benefited by the construction of main roads-by Europeans,, which, by opening up native property, has in ma*iy cases doubled its value. It is only lair that Maoris should be subject to the same rates as their brethren of Hpbter line. The "local Public Works Bill" makes provision for, the construction of main roads and other public works An unpaid Board, consisting of the Minister o* Public Works, the Engineer-in-Chief, the Surveyor-General, and the I üblic Trustee, will pay rates on Maori lands, make grants in aid of the construction cf main roads, and advance money for the formation of district roads. A sum of, $150,000 a year is to be set aside, out of the land revenue, for the services of the Board, who will award portions of it where they consider it required. For instance: If the County Council wish to obtain £10,000 for the construction of a main road, they wou'd have ta show the Board satisfactory proof that they had £2500, or one quarter of the required amount in hand ; such sum to be spent oa the work to be carried on. Having, satisfied the Board on this point, the remaining £7500 is given them to make up the total required. If, however, the Council have not a fourth of the money required, they must levy a rate sufficient to cover the £2500 in twenty half-yearly instalments. The Board will not charge interest at a'l on such sums advanced, and will allow 10 years for the payment of such sum. As will be seen, therefore, the cost of main roads will be borne by the Board and County, the latter contributing one-fourth of the sum expended. A different arrangement will be made with reference to district roads. Sums of money will be from ti me t ) ti me loan ed at the District Boards at a rate of 4 per cent, interest and 5 per cent, sinking fund, so that a local body haying obtained the loan wi'l be pajing i'a back, with interest at vjx anuu; 1 charge of 9 per. cent., which will be a transaction veiy favorable to itseif. Such a payment will extend over fifteen years. This will enable local bodies to carry out the work which rightly devolves upon them, aud will be a means of mak:ug them, more independent, careful and judicious in their expenditure of the pubic fuads. Whea they consider that it is the'? own money they are spending, they wi'.l reflect before rushing into any large engagements, c id, will be more careiul of the way the',! 1 owu money is expended.