THE WESTLAND DEBT.

Westport Times, Volume III, Issue 524, 1 July 1869, Page 2

THE WESTLAND DEBT.

It will be remembered that when the original County of Westland Act was brougbt into Parliament, one of its clauses stipulated that the apportionment of the Canterbury loans between the new County of AVestland and the Province of Canterbury, should be made by arbitration. The

Grey River Argus of the 22nd says: —The result, which was made known

to us yesterday by telegraph, shows that, to a certain degree, we were doomed to disappointment. The re-

suit nas not Deen equal to tne anticipation ; but this has been owing to an amount of £120,000 having been charged against Westland, which was never hitherto recognised by her, but which was asserted by our Canterbury neighbors to be due to them, when Separation took place, on account of expenditure upon public works over the amount of revenue received from the district. The total amount arbitrated upon was £672,807, of which it has been arranged that Westland's share shall be £207,086, but this includes the debit balance against "Westland of £120,000, to which we have referred, and which was supposed to be in existence at the time of Separation. It was fully anticipated that the result of the arbitration would have been the freeing of Westland from the annual payment of at least £IO,OOO, on account of interest and sinking funds, but our arbitrator has only been successful to about one-half that amount. For the present half-year the amount set down on the Estimates of the County was £IO,OOO on this account, and the amount to be charged next half-year will come to about £7500. This result, according to the bare outline which we have received, is disappointing, but perhaps a fuller explanation of the details may make it more acceptable.