The Star.

Hawera & Normanby Star, Issue 215, 27 February 1882, Page 2

The Star.

MONDAY, FEBRUARY 27, 1882,

PROPOSED BOROUGH LOAN.

The proceedings of the Borough Council on Friday evening were particularly satisfactory to us, because they entirely justify the position we have taken up on the loan question. There was hardly a councillor present who could have given an intelligent vote in favor of Councillor King's motion, although the report of the finance committee, brought up earlier in the evening, had cleared a good deal of the difficulty away. That committee afforded information not previously published, and demonstrated not merely that a loan was necessary, a contention which the large majority of the ratepayers have never questioned, but that it was immediately necessary, a fact which before had not been at all clear. The figures set out by the committee show assuming that the valuation list is maintained as made, that all the rates are collected, that all sources of revenue yield up to the estimate, and that all ordinary expenditure is kept within the prescribed limits, the available balance for carrying on public works will be .£370, or, quoting round numbers, perhaps £300 would be pretty near the mark. Of course, this is absurdly insufficient. Everyone at the Council table could 6ee that, but even so, everyone was not therefore bound to approve a motion for borrowing a specific sum. The very proper course was taken of simply affirming the desirableness of raising a loan, and requesting the committee who have charge of financial matters to collect information, and advise the council as to the amount that should be borrowed, and as to the terms and conditions and mode of raising a loan. This procedure bears the stamp of common sense, and even had some councillor moved in that direction at the previous meeting without notice (under the plea of 6xcep-

tional circumstances), scarcely a di^sentent voice would have been raised. However, as it is, we believe the week's delay will have proved a gain in the end. At next meeting the amount of the loan will no doubt be fixed, and with the Council's resolution in favor of a loan, there will go before the rafcepaj'ers a well -considered scheme as the basis for borrow ing.