CORPORATION FINANCE.

Evening Post, Volume XVIII, Issue 52, 29 August 1879, Page 2

CORPORATION FINANCE.

TO THE EDITOR OF THB BVBWINO POBT. Sir — 1 believe it is a jjuraalistie rule tbat tbe reply to any particular correspondent's letter to which objection is taken should appear in the paper in which the original letter appeared On tbat ground, and that ground alone, I ask you to insert the following answer to the letter of Air. T. X. Macdonald, which appeared in your issue of last evening. With charmingly-affected indignation Mr. Macdonald calls the world to witness how grossly the City Council has betrayed the confidence of the citizens by " deliberately appropriating for a foreign pwpose mot«y allocated ftr a special Act of Parliament for the purpose of freeing this city from the reproach of bad drainage." Mr. Macdonald, this kind of thing is not new. I have read before of discontented triumvirs who inflamed the minds of the people, hatched plots, and could not "sleep o' nighte." !

You are virtuous and righteoas, Mr. Macdonald, I know, but don't you remember that on the 21st March, 1878, I moved In the City Council—" That separate accounts be kept at tho bank, showing ilio amount to debit and credit, of the Wattrworks Account and tbe Drainage Account respectively, in conformity with the terms of section 47 of ♦ The Waterworks Act, 1872,' and section 14 of the • Drainage Act, 1873 V " I wished to see these moneys placed in such a position that they could not be touched except for the purpose for which they were raised. And don't you remember tbat you snoeringly observed (»?rfe New Zealand Times report, 22nd March, 1878,) "Tbat it would have been much wiser for Councillor Fishor to have waited until the Finance Committee bad submitted their report, which you had no doubt would explain everything." But you never explained, Mr. Macdonaid. Nor is this surprising, for I find ou refetence to tbe records that the first instalment of this £40,000 was '* borrowed " by the Finance Committee at a date prior to the 3}st August, 1878, you being at that date a member of the Finance Committee. £16,000 was the amount of that first instalment which you " borrowed " I am not now, and never have been, a member of the Finance Committee, and am not therefore in any way responsible for tbe traneftr or the " borrowing." 1 1 merely spoke of what had been done. It h you, Mr. Macdonald, who "glory in your shame," because, as I have shown, you were a member of the Finance Committee in August, 1878, whon the first £16,000 of this £40,000 was borrowed. Mr. Hunter, Mr. Logan, and Mr. Thompson comprise tho Finance Committee at present, and they have followed up the prccedont establishod by yon in August, 1878. You find fault with them. Do you challenge comparison if their probity with yours ? By the transfer the city saves interwt equf ' to £GOO a year. If (he citizens object, the money can be replaced at once. We should merely sot up tbe overdraft agsin, and pay ? per cent, upon it, while we should only receive b l i on the deposit at drr'nago account. But, just fancy ! T. K. Macdonsld placing the defender of the right. Enough, as tho Maoris fay. I am, &c, Gso. Fishbr. Wellington, 28th August.