HIGH RATE OF INTEREST, SHANTIES ON A HILL AND OTHER THINGS.

New Zealand Mail, Issue 1261, 30 April 1896, Page 34

HIGH RATE OF INTEREST, SHANTIES ON A HILL AND OTHER THINGS.

TO TIIE EDITOR. g lß) —i notice in the receipts and expenditure of tho Corporation two items—viz., general account, .£2000; water, .£l3,2oo—for interest alono. It's a big sum to find for a little village like Wellington. We will have to guard against any increase in this milking process, or wo shall be milked dry. 1 don't know what our public men havo been doing to let it

tot up to these figures. Splendid country as this is, and havo to pay tho rate of interest we do, on what may be called a perfectly safe investment, whilst insignificant, and, comparatively speaking, bankrupt states can borrow for a reasonable percentage. But it’s history for pioneer Englishmen to pay prohibitive prices for requirements. It is evidently an acknowledged fact with the money-lenders that tho security is perfect, or they would not be so ready to lend. It doesn’t speak well for our embryo financiers iu the Council to pay such a large sum continually. Re water on the high levels, there appears a lot of fuss made over tho

property so situated. It must be conceded ( 1 hat the low levels require some consideration. I applied to the Council for a drain j to bo extended a short distance in a main thoroughfare to new houses i erected, and was told if 1 wanted the workdone I could do it myself. It must not be j considered that I am an opponent of those I on the high levels, for 1 have property in | both positions, but there lias never been , the consideration given to the lower levels | that justice and fairness required. 1 con- i sider that if our splendid force of water is | not sufficient for positions under considora- j tion, they should do tho same as a friend j of mine, viz., construct tanks, or, if tho ; storage reservoir is absolutely necessary, j let an amount requisite for the work bo j borrowed, and make a charge on tho property that receives tho benefit of this special expenditure. It’s not to be supposed that the ratepayers who have contributed so liberally hitherto, and got so little in return, j can be expected to sanction tho borrowing | of a large sum for tho exclusive use of i possibly a lot of speculators who elect to j stick shanties on a hill. It must not lie j forgotten that situation, aspect, and i salubrity compensate somewhat for other : disadvantages. Are these agitators the bravo men that “ walks on the hills ” that Unconditional One quotes (in his letter) from Olive Schreiner’s dreams. This is an | ago of reality, not dreams. With reference | to the appointment of the Drainage : Engineer (and with him, I suppose, the eon- j suiting engineers) for another term, before | this is ratified I think it is absolutely | necessary for tho Drainage Board and tho | ratepayers to understand each other. I was under the impression the work was nearly completed. By this now proposal there is every appearance of tho mor^y

am like the generality of Englishmen, who put up with a lot before they speak ; and I have consideration for your space. I trust, Mr Editor, you will consider this fair criticism, and will endeavour to find space for for it.—l am, Ac., William Charles Watson. Wellington, 25th April, 189(3.