THE HARBOR WORKS. TO THE EDITOR.

North Otago Times, Volume XXVIII, Issue 2688, 28 January 1881, Page 3

THE HARBOR WORKS. TO THE EDITOR.

Sir, — The more carefully the matter of Oamaru's financial position is considered the more serious does it appear. With governing bodies as with individuals when the tweets of boa-owinu have once been tasted a, craving for more is induced, the appetite whetted by frequent indulgence becomes depraved until the only desire appears to be to obtain fresh advances, no thought being given to the day of reckoning. A resident of Chicago is reported to have boasted that that city was more heavily mortgaged than any other in the world. If great indebtedness be a subject for peans loud, then mny Oamaruvi<tns j proclaim with every confidence that their town is more hoplessly involved, caeteris paribus, than any other in New Zealand. The arguments brought forward by some, in fact by all of those in favor of a larye harbor,are baaedchiiflyon the trade which is hoped to be done in the future, and be it remembered not in the immediate future by any mean?, for as they might very well know, did they save the matter more careful attention, there is no probability and hardly a possibility of the shipping trade progressing indefinitely, as these would fain imagine. To talk of Plymouth or Cherbourg and Oamaru in the same breath is so desperately absurd that one is almost lost in wonder and amazement. Holyhead, from which is despatched five steamers per diem, has been recently tnlarged and now contains 24 acres. In how many years #ill the accommodation required in our harbor equal that required at Holyhead 1 The mania for usiny borrowed capital has apparently so overcome the reasoning powers of our otherwise farseeinc and shrewd men of business that they would almost mortgage their hopes of redemption for a sum of ready money, if it were not that the security they have to offer is, in most instances, so almighty vague and shadowy that no capitalist would lend on it. There is not one man of substance in every ten residing in Oamaru who is not either a mortgagor or a mortgagee, and though the truth may not be very palatable, the number of the latter is very much the greater. What would be thought of a man who built a new house, with rooms for 115 persons, directly after his wife had presented him with the hrst pledge of affection, because of the family he expected his children and grandchildren to have ? Where is the wisdom of lading on ourselves burdens of interest which should

rightly be Viorne by our posterity ? The election by the borough of three members oi" the Harbor Board will take place on the 14 h Februaiy. Before the day for voting let those gentlemen who were elected last year, Messrs Sumpter, Hasselt, and Aitken, meet the voters in the Volunteer Hall and expound clearly the reason of the faith that is in them. It is usual for those who seek to enter the House of Representatives to explain their views on important public questions, and there is at present no question of Btich vital importance to Oamaru as this. Should they be unused to speaking, they can at least write down their opinions and read them, that those who hear may mark, learn, and inwardly digest. At all events it is hardly too much to ask that the public should be enlightened publicly as to the ideas held on this point by their representatives. Magna bst Veritas.