THE LOAN PROPOSALS.

Gisborne Times, Volume XXVII, Issue 2689, 20 December 1909, Page 5

THE LOAN PROPOSALS.

[To Tiie Editob.]

Sir,—As I was unfortunately away at the statutory meeting of the ratepayers on Friday mid "thus TV3.S una.blG to express my views upon the Borough loan proposals, perhaps you will permit me to So so through your columns. The Argument used to justify placing the loans in one sum of £175,000 before the ratepayers on the ground, that it will save one per cent, interest if the loan is consolidated, does not seem to me to have much weight, and it clearly shows that the promoters have not confidence that even £IOO,OOO worth of the loans would be carried if placed separately. If £IOO.OOO or upwards of loans in separate items were carried (as I feel assured they would) the subsequent poll for consolidation would be purely a formal matter, and it is not probable that any ratepayer, although imposed to the loans, would tuen vote against the Borough saving one per cent, interest on the whole. To place all the loans in one sum for the polls seems to me an attempt to coerce such ratepayers who only approve of one or more of the proposals, to vote for those proposals which they do not want, in order to obtain that which they do, and is therefore wrong m principle and unfair. I entirely agree with the sewerage, the loan for advances for sewer connections with premises (first suggested by me) and the water works reservoir Borough Council is competent to express an opinion upon the electric lighting proposals,) as they are bristling with technical details: but. one can sav that if what the expert claims, can be achieved for the money, is correct, a great advantage would accrue to the town by tlie adoption of this proposal. The Waimata bridge loan is one on which the ratepayers will require no guidance from their representatives, and the same may be said of the recreation grounds proposals, the latter I do not oppose, but am inclined to think are' more expensive than is necessary. . ~ The tram service is a matter entirely for the ratepayers themselves t° decide as to whether they are prepared to pay for the undoubted convenience. They must consider the experience or Christchurch, Wanganui and other towns, and anticipate that they will not be revenue producing for a few years. Two reputable firms offered to install the trams at Hastings, and run thenv for the first five years at a fixed rate of fares for passengers, giving me Borough the option to take oyer at valuation or cost, at. the expiation of that time. It is significant that our Council has received no such otter, as, if it is' a remunerative enterprise, it surely should have tempted these firms. It may also be anticipated that values of property within, but on the outskirts of the Borough wil] depreciate. I am emphatically opposed to tue road loan proposals, as I am satisfied that a large proportion of the a ®°, u J borrowed will be practically pasted. r Jhe majority of the Council first auop - ed Mr Jarrett’s report and afterwards adopted Mr Marclmnt’s. A comparisn i of these two gentlemen s r epo As shows in many important details a complete variance between (them. »™> instances are sufficient, i.e.: (D 1 method of haulage of the metalL,, While Mr Jarrett advocates the partial use of Waihirere metal and Kaiteratahi shingle, Mr Marchant abandons Waihirere and recommends laying doivn the whole of the suburban roads with Kaiteratahi shingle only. The P™ct * cal experience and the local kno ledge.of the ratepayers will no doubt show them the futility of supporting any proposal that depends upon this .inferior stone for the permanent construction , of their roads, when for a trifling increase of cost, a. scheme can be arranged to lay down the whole of the roads entirely with Gentle Annie m it al is futile for the Mayor to argue that as these proposals will be left to a competent engineer they are capabl of alteration after the loan, has been agreed to. The ■ majority of the Council have pledged, themselves to Kaiteratalii shingle, and the amount of money allotted to each road would be insufficient if Gentle Annie metal was

substituted, consequently a fresh poll would have to be taken. Finally I emphatically assert thaßthe minutes of the Council show no meeting of the Finance Committee or of the whole Council sitting as a Finance Committee has been held to go into the financial side of the proposal. —I am, etc., W. LjSSANT CLAYTON, Gisborne, Dec. 15.