MUNICIPAL LOANS.
In discussing ■ questions affecting municipalities, one cannot help remarking the anomaly winch exists in respect to loans. People seem, to regard a loan for a public undertaking as a; millstone, and, under existing conditions, they may bo excused for viewing it with apprehension. In the Mother Country they have a system of classification of loans. For instance, if a loan be required for a road, it is made reppayable at a period co-terminus with the life of that road. So also with, public buildings. If a building be erected in wood, the loan is for a period of thirty years, and a sinking fund is provided which, will wipe, out the loan at the expiry of the natural life of the building.
Thus, people who benefit by a service, and these alone, are called upon to pay, and posterity is not burdened with taxes which, it should not be asked to bear. If some such system were' introduced in New Zealand, there would not be the same antagonism to loans as at present exists.
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https://paperspast.natlib.govt.nz/newspapers/WAG19110123.2.14
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Wairarapa Age, Volume XXXII, Issue 10145, 23 January 1911, Page 4
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176MUNICIPAL LOANS. Wairarapa Age, Volume XXXII, Issue 10145, 23 January 1911, Page 4
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