There Are Assets As Well as Debts
NEW THOUGHT FOR RATEPAYERSThat the position regarding local body indebtedness was not generally understood, was a statement made by Mr J. P. McDavitt in a lecture to the Palmerston North branch of the New Zealand Society of Accountants last evening. Mr McDavitt pointed out that, owing to the special features of public and local body finance, where there were no liabilities there were no assets. He commented on the fact that tho development of large business concerns and the progress made by life insurance companies, newspapers, etc., was regarded with approval, but that tho increase in local body debt was described as “alarming.” Whilst the nett loan debt of all local bodies inereeled by £41,500,000 from 1913 to 1933, the value of assets in the same period increased by £56,600,000. The assets did not include roads, footways, etc., which represented a large proportion of t'l) loan debt.
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Manawatu Times, Volume 62, Issue 124, 27 May 1937, Page 6
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154There Are Assets As Well as Debts Manawatu Times, Volume 62, Issue 124, 27 May 1937, Page 6
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