THE LOAN BILL.

Ashburton Guardian, Volume XXIX, Issue 7822, 15 June 1909, Page 2

THE LOAN BILL.

Per Press Association. WELLINGTON, June 14. The combined extension 'of- Appropriations and Loan Bill was brought down by the Minister of Finance (Sir Joseph Ward)' to-night. It provides in the first place for an extension of the -current appropriations from June 30 to October 14. The unauthorised expenditure provided for by last year's Appropriation Act is increased from £100,000 to £150,000 in respect to working railways, and from £150,000. to £200,000 in all other services. . ..: ■ ..,;■■.. ■: The second part of the Bill —ovides for the raising'of a. loan, for public works of a million and a quarter (the same - amount as that of last year's loan) at a rate of interest not exceeding 4-J per cent.,, the amount ■being allocated as follows: ' ; ' I (1) In respect of construction ■ of railways ... ..1 500,000 Additional rolling stock' for open lines and such other works and pur-, poses hi connection therewith as may bo authorised ... .... >250,000 (2) In respect of land settle- , meivfc and goldfields : development, the con- ..'■■.'■ struction of roads, tracks . and bridges for.' the purpose of opening- -. up backblocks, and de-' ' veloping the goldfields,, :' and such other works , ■ and purposes in connection therewith as may ■■ be authorised ..."■' : ;.;■'■ \300,000 (3) In respect of the ■ mir-' ■' -: J chase of native lands ..-. "100,000 (4) In respect of other public works ... ■■■;..„• ... ,\10Q,600 Total ..:•■ ...£1,250,000 In addition, authority is taken for the raising of a further £75,000 in connection with the railway duplication works; namely, Auckland*Penrose, Wellington-Hutt, and Dunedin-Mos-giel. ■■-".'