LOCAL BODIES' LOANS.
The extent to which local governing bodies' loans have been raised locally and abroad can be gleaned from the following official figures for ioans outstanding at the dates indicated: — Raised in As at 31st New March. Zealand, Abroad. Total. 1914 .. £10,106,082 £8,817,400 £18,923,452 1920 .. 15,854,725 7,753,570 24,608,295 1921 .. 17,737,891 8,449,069 26,186,960 1922 .. 21,196,094 9,070,110 30,266,204 1923 .. 25,688,390 10,370,992 36,059,382 1924 .. 26.668,C33 12,441,467 39,110,000 1925 .. 29,412,907 16,307,887 45,720,794 Commenting on these figures the Auckland Chamber of Commerce Journal says:— The assets of local governing bcdiehave increased in much the same proportion as the net loan indebtedness. This is not a satisfactory feature; for with the increase in prices that has taken place during the past 10 years, we should have expected an increase in the value of the assets considerably greater than the figure representing loan indebtedness: since the pre-war debt still outstanding does not increase in nominal value, while the assets created as a result of such loans should increase.
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Bibliographic details
Auckland Star, Volume 246, Issue 246, 16 October 1926, Page 6
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163LOCAL BODIES' LOANS. Auckland Star, Volume 246, Issue 246, 16 October 1926, Page 6
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