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THE MIDLAND RAILWAY.

The following appears In the Wellington "Evening Press" of the 6th Inst., m answer to the quertion, " Why Ihi work does not prooood." The oompany have hitherto baen anxious to obtain pjsseislcn of their land grant In as largo and as early Instalments as possible, m ordor that they might borrow on It tho funds for constructing the lino. It Is olesr that they cannot offer tho land as security for advance* uutil the land Is theirs. Bnt it has now daw nod upon them that the moment tho land becumjs tho'rs, it also I beonmrs sul'j 'ot to taxufjn both colonial and looil. it Is rather dieconoortiog to find that they have tj pay property tax and cunty rates on land, which, at present, at all events, has an entirely fiolltloui value, m addition to p»yin;? Interest on money borrowed on the security of this land, from wlioh they oannot look for any return for a long time to come. A great part of the company's grant lies m the most impeounlous part of the ooiony, where they will be, praotlcally, the only property owners, and where the local bodies are of unexampled voracity. This Is the real cause of the delay, and unless scina mathod oan bo found of allaying the well-founded alarm on this eoire, the delay may yet be prolonged Indefinitely — m short, we have not yet nearly reaohed the sta?e when we may dispense with the now familiar epithet, the Midland Muddle.

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http://paperspast.natlib.govt.nz/newspapers/AG18881119.2.22

Bibliographic details

THE MIDLAND RAILWAY., Ashburton Guardian, Volume VII, Issue 1991, 19 November 1888

Word Count
250

THE MIDLAND RAILWAY. Ashburton Guardian, Volume VII, Issue 1991, 19 November 1888

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