THE UNEMPLOYED

Evening Post, Volume CII, Issue 62, 10 September 1921, Page 9

THE UNEMPLOYED

CITY COUNCIL DECISION

TO RAISE £25,000

UNDER BIG LOAN" PROPOSALS.

Tho question of raising money for the purposes of unemployed r«!ief was discussed at a special meeting of the City Council yesterday afternoon. When the council assembled at Jialfpast four, Councillor T. Forsyth asked' whether the proceedings were going to be conducted in open meeting. The Mayor. (Mr. K. A. Wright, M V P.) then moved ,tihat the council go into committee. Councillor L. M'Kenzie: "Why in committee?" The Mayor: "I think it will give us a better opportunity of discussing the maibter. We can' have a discussion in open council aftemvairds if it is desired.'' Councillor M. F. Luckie: "Why advertise the matter, until we know what we are going to do?" Tbe motion to go into committee was carried. The council rose at 6.30 o'clock, when iit was reported that the following resolution had been carried :— "That this council endeavour to raise fanmediflitely £25,000 under their loan : proposals, and that the Government be aeked to give 'thie. council authority to vary the conditions., if necessary, to make iit a. ahont-datedi loan in order to meet the present unemployed difficulty." Although no official statement was made on the matter, it appears that some councillors wane opposed to the proposition made during the week to obtain a special sum of £15,000 for expenditure on relief works, the money to be repaid in two years by means of an extra rate of'one-eighth of a penny in the £1 on the ■unimproved value. Thursday's Gazette contained a.notice stating that the City Council had been given authority to' raise .a loan of £100,000 (part of the loan of £1,708,916 authorised last-September) within 4.UStrala»ia at 6£ per -cent. The teim of the big loan is for 20 years, but the council took the view that if £25,000 out of the £100,000 mentioned aibov« could be raised for a short-dated period, it would, be possible to overcome the unemployment difficulty by waiting a start with the works set out in tbe loan schedule approved by ratepayers a- year ago. By making the loan a shonfc-daited one it felt that many people would be induced to subscribe to it, and thus help ;to relieve the present situation.