LOANS TO LOCAL BODIES.
Faithful to' his promise, the. Hon T. Mackenzie ha® forecasted legislation to afford a. State" guarantee' for loans to local bodies. This will mean that the public: dobt.cif the country "will continue to he increased, though it will not appear as anl 'addition to the National ,dt!bt. It will readily he. seen that the -cost to the taxpayers of rafting separate private loans will be much greater than 'would be the cost ■of .raising a National loa'a-, . notwithstanding that each loan is .guaranteed ; by the. State. We cannot 'for the life of us se? any justification for the .abandonment of the system which ha*s been in vogue for several years past.
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https://paperspast.natlib.govt.nz/newspapers/WAG19120701.2.10
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Wairarapa Age, Volume XXXII, Issue 10673, 1 July 1912, Page 4
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115LOANS TO LOCAL BODIES. Wairarapa Age, Volume XXXII, Issue 10673, 1 July 1912, Page 4
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