EXCESSIVE BORROWING.

Wairarapa Age, Volume XXX, Issue 8879, 13 November 1907, Page 4

EXCESSIVE BORROWING.

The Premier stated, speaking on the second reading of the Railway Improvements and Authorisation Bill in the House of Representatives,, last night, that perhaps during the curre/it financial year the Government would require to expend on Auckland and Dunedin railway lines from £135,000 to £150,000. Mr W, F. Massey said this was the fourth loan bill introduced this session,. Jand,the total involved was £1,450,000. He pointed out that the public were under the impression that borrowing for public works purposes was being confined to a million a year. Asa matter of fact, the public are profoundly ignorant of what amount is borrowed every year for. The Government has devious methods of "raising the wind," and the accounts are po mixed up that not only the public but Parliament is left very much in the dark respecting borrowing transactions. So far as can be gathered,, the borrowing for railways and other purposes this year amounts to within £50,000 of £3,000,000,, Under the circumstances, Mr Massey might well, as he die! yesterday, express a hope "that the Government would see that the country got good value for the money expended." We fear, however, that the hope will to'a large extent prove barren.