The Opunake Times. TUESDAY, JULY 14, 1896. SINKING FUND.
The new Colonial Treasurer —Mr Beddon —does not show a very great grasp of finance, in theory a tany rate, in defend mg the Go/c ament against the charge of having collared the sinking funds belonging to_ the Local Bodies loans. In replying he said that he had stated on every public platform where he had spoken during the last year that “it was a proper thing to let posterity pay something for the reading and bridging of the country.” Considering that settlers who have formed their properties into special areas for the purpose of raising loans have to pay up the interest and sinking fund on such loans until they are liquidated, we fail to see where posterity is likely to chip in for their share of the burden. If the Government converted all such loans and freed the settlers from further special rates on account of them, charging the interest to the consolidated revenue, then posterity would in due course know all about it, and the settlers of the present day be correspondingly happy, So long, however, as those in special rating areas have to pay the uttermost farthing it is all bunkum talking on the public platform or elsewhere about the enforced generosity of posperity.
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Bibliographic details
Opunake Times, Volume V, Issue 194, 14 July 1896, Page 2
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217The Opunake Times. TUESDAY, JULY 14, 1896. SINKING FUND. Opunake Times, Volume V, Issue 194, 14 July 1896, Page 2
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