OUR RAILWAYS.
» .Sir, Will one or other of our M.P.'s be good enough to tell me to what account! the interest payable on the acpital cost of our railways is a finally charged? I hav« assumed that it is added to the capital cost ot our railways year by year. I have lately ■ been told that in this I am not correct. ' Therefore I want to know when it is charged. What I want to point out is this: We aro now paying considerably over a million per annum for interest on the cost of our railways. It is quite certain that it ha! not been paid out of railway revenue; > therefore, 1 take it that it must hare been paid out of capital from somewhere; I ' want to know where. Let my fellow-citizens not._ forget that charging interest to I capital means compounding interest, and C compounding interest at 4 per cent, on t £27,000,000 will very foon bring a ranch > bigger business than our railways to grief. 1 Samuel Vaile.
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Bibliographic details
New Zealand Herald, Volume XLV, Issue 13691, 6 March 1908, Page 3
Word Count
172OUR RAILWAYS. New Zealand Herald, Volume XLV, Issue 13691, 6 March 1908, Page 3
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