THE DISCUSSION,

New Zealand Herald, Volume XLV, Issue 13768, 5 June 1908, Page 6

THE DISCUSSION,

IS THE LOAN" JUSTIFIED? Mr. Pair expressed the opinion that the present was not the time to "borrow money. In the first place he did not think the ratepayers were in the mood for a further loan. Then there was a great deal on hand, and ] the Council would have its hands pretty full for the next three or" four years. " I am feeling a bit tired/' he said. " Y T ou arc a little too energetic for me. You, sir, are trying to do a. little too much, and crowd too' main- activities into your term. Why, we shall 'really leave nothing for our \ successors if we go oil like this. The office of Your successor will bo a. sinecure. ' Motiev was tight, he added, ami it. was extremely doubtful if the amount could be borrowed at- four per cent. Mr. Court: Four and a-hall. • Mr. Pair said jour and a-hall was too much. The main item he. objected to was the £32,000 set down for street improvements, making some £60,000 for this work. He considered that the general late should be made to maintain and be liable for ordinary street expenditure. These improvements, he held, were not urgently necessary, and he thought, the Council might well wait until the money market, was easier at all events. He did not think it was altogether advisable, moreover, to pay interest out or water i profits. The expenditure was creeping tip, and he thought it should be scrutinised verv carefully. ' j Mr. Tudehope said the Mayor was ! very optimistic as to the. future, but he did not want to lake up a similar view and land the city in difficulties. he thought the proper thing to do would be to charge the water account to the new reservoir, which he recognised as a very necessary work. He objected to the Council going to the ratepayers lor £32.000 to spend upon streets, when the rate's should be made to pay for them. As to the loan, he. could not with confidence go to the ratepayers and ask tor more money for street maintenance, tor maintenance it was, just under another name. In the near future—within ten vears— reminded the Council it would be necessary to go to the ratepayers for a loan of probablv £500,000, and in the meantime he thought they should cut the coat according to the cloth. Mr Bagnall pointed out with regard to anv objection there was to taking the water profits that the money was merely bein" returned to the ratepayers in another way. The street improvements mentioned were hew works. Mr. I art; had acquiesced in the expenditure oi £117,000 not long since. Mr Parr: Make it a million. . Mr Bagnall agreed that the money should not*be raised at more than 4 per cent,, and if it. could not. be done lie would recommend holding oft until it could As to the future, he. thought it would be a long time before there were no more worlds to conquer or work to do as tar as the city was concerned Mr Kartell thought it would be better to*' fare the -music." and get the streets attended to at once. . Mr Smeeton said there were certain works which must receive attention, but as had been pointed out, there were several verv large commitments already, the matter'was one that he felt required careful consideration. Mr Kntrican pointed out that no provision was made on the estimates for the authorised loans not raised, or for the further development of the electrical scheme. Street maintenance, as they knew was "30 per cent, more expensive than it was a few years ago. Moreover, half a million would be required for the drainage scheme, and if this was expended under the Greater Auckland scheme, perhaps a million would be required, and the London money market might be explored with real benefit to Auckland.

"JUS TICK TO THK FUTURE." The Maynt. in his replv, said lie believed circumstances justified the progressive policy of the Council, and the support of the Finance Committee's recommendations, with regard to the estimates. They must try and do justice to the city's future. Why should they cry a halt'.' Auckland was* progressing by leaps and bounds, and so was the whole. 'province, and the Council was here to keep pace with the times. As to the sufficiency of the general rates, which was quest ij»ed by Mi. Parr, he did not think there would be any necessity to increase them if the finances were prudently dealt with.

Mr. Pair: Wait till the valuations drop. 'Hie Mayor said he did not think the valuations would drop. Auckland industries were in a sound condition. Mr. Parr: Gum and flax? The Mayo) said settlement was going on apace. Mr. Parr had been most persistent in drawing attention to the condition of the street*-—(Mr. Parrel!: "Franklin Read")—and Mr. Pan must be consistent, It was the duty of the Council to improve the streets. Auckland was the leading city, and the Council should keep pace with its progressiveness. As to Mr. Parr's remark that there would be nothing for future Mayors to do, he took objection to that also. There would bo plenty to do when Mr. Parr and himself were a great older than they were now. As to street widening, the Mayor directed the attention of the Council to High-street —a standing monument to the lack of ■foresight on the part of past councillors. He thought the credit of the City Council ill regard to borrowing would be just as good as that of the Government. In fact he had a letter to that effect, from the late Mr. Se.ddon. addressed to the, Government broker in Melbourne. IIIK ESTIMATES ADOPTED. The estimates were adopted, the question of the loan being referred Be a : committee, of the whole Council.