WANGANUI MAYORALTY

Dominion, Volume 28, Issue 168, 12 April 1935, Page 6

WANGANUI MAYORALTY

Mr. Falconer’s Address NON-BORROWING POLICY Dominion Special Service.’ Wanganui, April 11. J'ho campaign for tbe Wanganui mayoralty opened to-night, when Mr. W. M. Falconer, a member of the present City Council, addressed electors in the Opera House. The .speaker quoted this morning’s “Dominion” leader, “Mixing Politics and Dustbins,” to emphasise that the public was getting heartily sick of polltidal propaganda. He was not antiLabour, but was anti-party. Party politics were a curse when they crept into local body matters. The dominating factor in the finances of the city was the operation of tbe sinking funds, Mr. Falconer said. No council could claim credit for that, but it was essential to follow the lead of the present eouudil and pursue a non-borrowing policy. if that policy were maintained, tbe indebtedness of tire city would be reduced to £600.000 by 1942, and £450,000 by 1948, less than half what it was in .192728. The total revenue the council had at its command from all sources, including rates, was £122,000. That gave the city 4/2 in £1 to spend on works and services. The balance went in interest, sinking funds and other charges. The gas department, be said, was a very bright spot. They were owned by the ratepayers, who bad the responsibility of finding the money to keep tben> going. The ratepayers also took all trading risks in Connection witli the supply of gas. He contended, therefore, that the profit from the gasworks should be used as a setoff against losses to ratepayers in other directions so long as consumers were obtaining gas at a reasonable price. As an accountant, he believed, however, that the past councils had been inclined in a time of expediency to dip too freely into the gasworks till, and it would be advisable to build up reserves and strengthen that department's position.