"SPEND THE MONEY"

Evening Post, Volume CIV, Issue 51, 29 August 1922, Page 8

"SPEND THE MONEY"

CITY COUNCIL'S LOAN POLICY

COMPLAINT OF INACTIVITY.

When th« ratepayers carried th« loan schedule in September, 1920, for1 works aggregating a total cost of f11,708,816, they probably did not realue that the wheta of the money would not be raised at once. This year a sum of £692,000 was borrowed in London, principally for waterworks and power-house purposes, but there v no intention on the part of the City Council to go on the market just yet for money for the numerous other works mentioned in. the loan schedule. A few of these works, such M baths, certain street -undertakings, and some general' improvements^ (chiefly reserves) were, of course, ,provided for by a local loan of £125,000 raised about two months ago, but there still remains to be borrowed an amount of £890,916 lor tramway'extensions, new tunnel to eastern suburbs, and various other purposes. In view of the amount of unemployment said to be existent in Wellington, complaint is made that the Corporation does not go on with works that have been authorised, but not yet pro : vided for financially."" ' •.■.,' The matter came up Cor discasum at last night's meeting of tie Eastern Suburbs League, when' delegates expressed the opinion that the City Ooodol should endeavour to relieve the unemployment problem by going on with loan works. Attention was drawn to the fact that the citisens were being triced to subscribe to relief funds when the City Council already had loan moneys in hand. ■. ' ' '■

On the motion of Mr. Q. M. Tnrabull, seconded by Mr. F. J. Downs, it was decided : "That the Eastern Suburbs League requests the City Council to proceed with the works on the loan schedule for which it has already raised the money, and, if there is any reason l why< this cannot be done, that the reason be made pnblic." ;.'■;, ' . ■ ■■.;.'■