The Northern Advocate TUESDAY, FEBRUARY 21, 1911. THE LOAN PROPOSALS.

Northern Advocate, 21 February 1911, Page 4

The Northern Advocate TUESDAY, FEBRUARY 21, 1911. THE LOAN PROPOSALS.

ALTHOUGH there was only a moderate attendance at the Theatre last evening to hear the Mayor detail his loan proposals, the vote in their favor was unanimous. We were glad to hear Mr Steadman put his ideas before

the ratepayers in such a convincing v/ay for he showed that he has a scheme carefully thought out. The amount it is proposed to borrow totals £28,500 and the town needs the money badly. The Government will lend £20,000 of the amount repayable at a low rate of interest in 36 years and it is only right that those who acquire property here in tha future should bear their proportion of the cr.st of 1 uilding up the town, and that the presi-nt ratepayers should bear ihe Y.li'-'.e cost of road-nuking from year to year. If Whangarei is to advance pad if property is to increase in value, if the footpaths and roads are to be made passable and the place present some appearance of tidiness, we must have money, and we must borrow it. It would be absurd, we agree for the Council to have thrown away £100 for an engineer's report before the loan was carried. If the people agree to take the money from the Government—and they will be wise to do so—a competent engineer can be engaged to carry out the work. In a few weeks the electors will appoint a new Mayor and Council, and they can then elect men with a definite poHoy as to how the loan money shall be spent, and a Council in whom they have every confidence. We advise fill to read our report of the Mayor s (x----planatory speech and those who read will be satisfied with the soundness of the scheme. The small increase— a:id in future years there might not be any increase at all, but a reduction— in rates will be nothing compared with the advantages to be gained. Moreover, the money will circulate around the town again and again, and all will feel the benefit. It has been loan money that has advanced Hamilton, j Gisborne, Napier, Palmerston North, Masterton, Cambridge, and to-da> Auckland is booming as we all know because of the up-to-date financing of Mr Arthur Myers. He, as Mayor, borrowed wisely and well. We w>nt a new bridge in Walton-street. Will the

Council lev

) r an excessive rate to build

it or borrow the money on a small rate? Borrow the money by all means. We want municipal buildings. The town at present has not a home of its own. We want a theatre. The rent from theatrical companies will pay the interest or the greater part of it. Let us do as other towns do: borrow the money and have it. We can afford it. Why be mean when ordinary comfort is required? The Government will give the town £500 towards purchasing Mr Wilson's Western hills for a public park. Let us borrow the other £500 and have a park. We can get £ 1000 worth of property for £ 500, and we can take 40 years to pay the £500 back. Let us have a little comfort and a little advancement. We sincerely hope the progressive people will not listen to the croakings of a tew fat property owners who begrudge paying a penny towards the advancement of the town in which they own large interests. Such are merely waiting for the unearned increment and desire to get fat prices for what cost them almost nothing. The town must move ahead, and the young up-to-date people must take a hand at moving it along. We say to them: "Borrow the money; carry every loan proposal; and in April next elect a Council you can trust to carry out your

wishes."