STATE GUARANTEED LOANS.

Gisborne Times, Volume XXVIII, Issue 2768, 24 March 1910, Page 5

STATE GUARANTEED LOANS.

“COMMOXSENSE AND PATIENCE

NECESSARY.”

[Per Press Association. | WELLINGTON, March 23. Referring to complaints received from some local bodies as to applications for loans under the State Guaranteed Advances Act, Sir Joseph Ward informed a “Post” reporter that the total amount authorised by the Board at last meeting was £612,000. In, no previous .period of twelve months had the amount exceeded £200,000. The applications submitted to the Board at last meeting amounted to £1,400,155, and the Board, rightly in his opinion, gave preference to applications for advances for sewerage, drainage, water supply, roads, and bridges. To have entertained applications for tramways, electric lighting, gas loans, and building municipal theatres, to the exclusion of more necessary works, would not have been right. He thought that the public generally would recognise that proper preference had been given to- more pressing works. No Board would be justified' in letting out the whole of the money available at once. The system had conferred, and- would confer, a boon to local bodies, but commonsense must be used and patience exercised. The Board imust- be careful in discriminating as to which class of works should receive first consideration.