CITY COUNCIL LOAN

New Zealand Times, Volume XLIX, Issue 11302, 30 August 1922, Page 6

CITY COUNCIL LOAN

“PROCEED WITH THE WORK.” AND RELIEVE UNEMPLOYMENT. When the ratepayers carried the loan schedule in September, 1920, for works aggregating a total cost of £1,708,916, they probably did not realise that the whole of the money would not be raised at once. This year a sum of £692,000 was borrowed m Condon, principally for waterworks and power-house purposes, but there is no intention on the part of the City Council to go on the market just yet for money for the numerous ofher works mentioned in the loan schedule. A few of these works, such as baths, certain street undertakings, and some general improvements (chiefly reserves) were, of course, provided for by a local, loan of £125,000 raised about two mouths ago, but there still remains to be borrowed an amount of £890,916 for tramway extensions, new tunnel to eastern suburbs, and various other 'purposes. In view of the amount of unemployment said to be existent in Wellington, complaint has been made that the corporation does not go on with works that have been authorised, but not yet provided for financially. The matter came up for discussion at the last meeting of Ene Eastern Suburbs League, when delegates expressed the opinion that the City Council should endeavour to relieve the unemployment problem by going on with loan works. Attention was drawn to the fact that the citizens were being asked to subscribe to relief funds when the City Council already had loan ■money* in hand. On tho motion 9f Mr O. M Turnbull, seconded bv Mr F. J. Downs, it waa decided: “That the Eastern Suburbs League requests the City Council to proceed with tho works on the loan «chedul#for which it has already raised the money, and. if there is any reason why this cannot he done, that the reason Be made public.”