The Wairarapa Daily. SATURDAY, SEPTEMBER 29, 1888. A New Municipal Idea.

Wairarapa Daily Times, Volume IX, Issue 3016, 29 September 1888, Page 2

The Wairarapa Daily. SATURDAY, SEPTEMBER 29, 1888. A New Municipal Idea.

Cn Cabman has given a notice of motion for the next meeting of the Borough ■Council which opeus up the question of covering the present indebtedness of the Borough with respect to gas, library, and stoam firo engine by a new five per cent loan. It would also include a suni sufficient to construct the unmade roads within tho" Borough.' In his'notice of motion Cr Carman gives no indication of tho amount of the new loan ho would propose to borrow, but it is gratifying to find that a member of the Council, who is wont to be regarded- as a prudent andsensibleman,has sufficient confidence in the future of Masterton to advocate a progressive step of such a character. We may assume that Cr Carman has two ohjeots in view iii his project. First, he expects to save from £IOO to £2OO por annum by borrowing money at • a less rate of interest than is now paid, and second, he would expend the sum so saved in paying interest on a further loan to be expended hi constructingimmade roads. The.sqheme, if it could be carried out exactly as he has planned it, would complete some very' necessary public works without imposing/any: additional burden/on the ratepayers. The difficulty, however, would-be to carry out suoh an undertaking without incurring some unkuown or. unanticipated obligations which would counteract the advantages sought to be gained. Cr Carman lias recently visited England and may be in a bettor position to.kndw.that money could beborrpwed tjierp by the Borough at five per cent than we are. If through the instrumentality of Cr Carman, the Borough can borrow money at five pAr cent on which it is now paying six; seven, and possibly for its.overdraft nine per ■■ cent, the municipality would be placed in a much stronger position for prose-: outing necessary public works, We fear, however, that if a loan could be obtained'; at such a }p.iv'rateof interest, the first two years' saving which it would effect would; disappear in charges for brokerage. This question of alow rate' of. jiitetosfc : ]s/of vital impovtaii.ee-to- Ma'ster'ton,aiid'"if Cr Carman can throw some new light upon the best methods, of securing cheap capjta} for the Borough roads, I he will place the Council T jna better 1 position to take up; many, public works which must sooner or later be constructed. ; ,jnuV pf loan, and (which might at o'nee be considered if conditions for' borrowing were favoi'able. In connection with Or Caiman' 6

' j '-^savextension .from 'the centre; out- : wards—and not ju: the; promiscubUa and i •; irregtditib'. v-'iaaiiner.:-'".-;' hitherto |ftipp^.^^^;;vl;i^.^;i;- ; ;i:xi-