TOWN HALL FOR HAWERA.

Hawera Star, Volume L, 22 May 1930, Page 4

TOWN HALL FOR HAWERA.

(To the Editor.) Sir, —I was delighted to read that Councillor Simpson had -set the ball roiling and that, the very proper start was being made of asking the public for an opinion. ' It appears- that the scheme will be turned clown for two reasons. We cannot afford to do away with the buildings now doing good service, and, secondly, the rates are high enough. And so it seems the matter will rest again unless Mr Simpson is ready to carry his project further. The fact remains that- we will require a town hall and must before long face the expense. Our buildings will last another few years; what then? A loan? I hope not. A simple scheme could be suggested—that of covering the cost of the proposed building by a rate to produce the required amount, say, in 10 years, and this with the interest which would accrue would make provision for the building and perhaps furnish it without further cost when the building is required. Contrast this with a loan and at 5 per cent; we would pay in interest enough to have -built the hall and still have to pay .off the loan in 20 years’ time. A sinking fund is an additional burden, although, of course, better than no provision for repayment. I offer the comparison ,as an antidote to the bad system of borrowing. Loans come home to roost and interest is the incubus which contributes to the miserable stagnation which exists during these, our most prosperous years. If we do not make provision now we will never get a town hall without a loan and its consequent expense and interest. Thanking you for your valuable space.—l am, etc.. SIMPLETON.