PUBLIC MEETING RE LOAN.

Wairarapa Daily Times, Volume 4, Issue 1195, 4 October 1882, Page 2

PUBLIC MEETING RE LOAN.

Nearly a hundred persons were present 1 last evening in the Town Hall, Mastertou, at the meeting called in connection with the proposed loan, His Worship the Mayor in opening the proceedings, said that when he stood for the office ho then held he was not favorable to a borrowing policy (hear), but I found by experience that money must be got somewhere. (Mr Woodroofe: Question I) If the ratepayers required works to be done the Council must have means to do the wprk. ventured to say that anyone opposed to a loan who Berved on the Works Committee for one winter would be converted in i(s fa for. The Council were pretty unanimous re the schedule of the loan excepting »s to the item for a fire engine, and they would be willing to let the meeting decide for or against this particular work. (Applause.) Mr Caaelberg, who was then called upon, said that he formerly, like the Mayor, was opposed to a loan, but the former loan which he opposed was a big thing for gas and water works suitab'e for a town with ten times their population. The first gentlemen elected to look after the Borough of Mastertou were men of large views. Tl)ey included in it farms and sheep runs, making it as large as Liverpool, and creating in it a diversity of interests which were difficult to deal with. It had taken all their money to make roads in the centre of the town, and if they were to do justice to outlying districlsit was necessary to borrow. Since he had been elected to the Borough Council he had seen sufficient to prove that a loan was inevitable. Councillors opposed to a loan were as much responsible for the present proposal as any. They voted' for wpr|s being done by the Council without considering how the money was to be provided. They had passed works to the amount of £I6OO, and J2OO. for Mr Benall, making with the overdraft a liability of 12,500. If the outlying districts waited till, their ordinary revenue enabled their roads to bo constructed, they would have to wait a very long time.' If the first Bprough Counoil hud done its duty, and 'refused to itake, over unmade streets in accordance with the law they would not have been in their present position. But the gentle-

jrien then in office were.no doubt carried away by the spirit:. of the times, and thought that Mastertbn was about to become a Chicago.; The ratepayers could not complain, -they had eleoted those gentlemen over and ovor again, shewing that the course they had pursued met with their approval. Referring to the loan he pointed out that for the centre of the town there was £l6O alloted to Queen-Btreet, £IOO for'lamps and L6OO, not for a fire enfiine but for a fire engine and water supply. They thought that the engine would cost from Ll5O to L2OO, (Mr McCardle: No I), and to bring water into different portions of the town between L2OO and LSOO. The centre of the town was entitled to tbia small expenditure, and this provision would decrease the risk of fires and lower insurance rates. He believed that no speoial rato would bB required for repaying the interest and principal of the sum proposed to : be borrowed. In the past more than half of their rates had been spent on construction, and generally in the dead of winter when they could not be expended to advantage. He proposed to divide their present shilling rate into an eightpenny rate for maintenance, and a fourpenny rate for interest and sinking fund. After four years a threepenny rate would be sufficient for the latter purpose. The debt would be extinguished in sixteen years, and ho based this calculation on the assumption that the rates would incresse 'i\ per cent each year-a very low rate of advance, as in the past sevon years they had doubled. He was prepared to say'that theie would be no difficulty iu raising money at 1 per cent, and that it could- be obtained within a week. The cosi of obtaining it would be two per cont.,'which cost spread over the period for which the money was borrowed would make the interest amount, to £7 Is 8d per cent. Before resuming his seat ho desired to explain that he did not intend to seek the honor of being elected as their Mayor at the coming nomination. His private business required his undivided attention. In the Council he had watched their interests without fear and without favor, giving every question a fair consideration, and it was his intention to serve out his term of which two years were as yet unexpired. At any time, if the ratepayers were dissatisfied with him, they had only to ask him to resign, and he would be most happy to do so (applause.) Mr Easthope: What do you propose to pay for the engine. Mr Caselberu was sorry to say the father of the engine, (a laugh) Mr Gapper wttßnot present. He understood that the Greytown people were getting one that would cost £l5O to £2OO, weight 1$ tons, and get up steam in seven minutes, They proposed to wait and see this engine before getting one for themselves. Mr Easthope: Are you sure that the Greytown engine is a steam one] Mr Caselberg; 1 won't take my oath upon it. Mr McCardle: No it isn't. The Chairman: A steam engine will cost frmn £3OO to £450.

Mr Perry said the supporters of the loan were trying to draw a red herring across the scent, Mr McOardlo rose to defend the old Council, which had been attacked by Mr Oiisolber.'. He maint lined that the Council had carefully considered the question of taking ovor streets, had obtained the best legal opinion available on the subject, and had in each instance acted rightly and with judgment. Mr Caaelberg forgot that Cole-st and other roads were in existence prior to the Borough hems! constituted. The speaker then referred to his views on the loan question, advocating, as on former oooasiona, necessary roads and a 6mall sum for water,

Mr Woodroofe followed with a characteristic speech He complained that only thirty ratepayers were present in the hall, and protested against the verdict of such' an assemblage, Only a small percentage of men were thinkers, and all their misfortunes were due to men who could not see further than their n»ses (Liußhter), Until Mr Eenall joined the Borough Council it was the most wretched magged borough at its head and tail, (Laughter). The Council had a sort of gambling tendency from the lime it started, Mr Caselberg told them that they might be in heaven before the money was paid back which Ihey would borrow, but in his opiuion those who borrowed, (A voice : Will never go to heaven) would go to the other place, It was better for them to go through mud than to tread on roads paved with penny loaves or patched with pancakes. Ho reminded the meeting of the Scotchman's maxim, "Never borrow but for manure." They had only four months of bad weather in the year, and it was better to put up with them, (Applause,)

Mr Vile characterised Mr Woodroofe'a speech as a slander. If as he held borrowers wont to hell ho would have to accompany them, as he was a money lender at a stiff rate of interest, and he could not j?et on without borrowers. The views of Borough Councillors wore already well known through the Press, and he had hoped that on the present occasion the viows of outsiders would be stated. He supported the borrowing policy including the fire engine, but would sacrifice the latter if necessary to save the loan (Applause). Mr Woodroofe said he had no respect for Mr Vilo so that he did not mind what he said (A laugh), Mr Onselborg'explained that he had had no intention of blaming the early Councillors in his remarks,

The Chairman suggested that a resolution should be proposed re the fire engine,

Mr Perry did not consider this to be the question before the meeting. Mr Rapp. If the meeting is against a loan will ihe Council abandon it? Mr J. Vile;'Nol

The Chairman : It will not, unless the majority agaiust it is of an overwhelming character,

Mr Perry questioned the authority of the committee in coming before the present meeting.

Mr Easthope proposed that the item for Gre engine should remain on the schedule. It w»s the only sonsible one on it. Every pound spent on the engine would be a pound saved out of the fire. He was disappointed with the advocates for the loan ; all they said was " Give us money, for God's sake, and plenty of itl" (A laugh). He Med to see "the advantage of a loan. He prophesied that the rates would be doubled, and that Mr Perry, instead of having to pay £4O or £SO, would have to pay &00.' The proposed steam fire engine would cost £360, throw 300 gallons of water per minute, and not cost more than £l2 a year more than their present manual. Mr McOardle thought Mr Easthope's resolution out of order, and moved that in the opinion of this meeting the time has not arrived when a Bteam fire engine can be worked to advantage. After a little irregular discussion Mr Easthope's motion was put to the meeting and lost. Mr Woodroofe • then moved that a borough loan was unnecessary. Mr Perry seconded it'and after a little further irregular discussion, Mr Woodroofe's motion was put and carried, about twenty voting for it and about twelve against it," ' ■ . The meeting then dispersed after a vote of thanks to the chair had been moved by Mr Perry.