SINKING FUNDS
Sir,—Mr. Ball has put his finger on the weak spot. If the Public Trustee cannot get his money in, there is perhaps no great objection to granting him time for payment. This, however, as Mr. Ball points out, is only a minor feature of the bill. As a result of its main provision, the Power Board is required to pay in £250,000 during the next 15 or 20 years, and the total amount payable by local bodies throughout New Zealand must be enormous. What is the object of this requirement ? The payments which the public bodies are required will operate as a sort of compulsory loan, and once compulsion is applied, the ordinary Briton fights shy. Public confidence is always best maintained bv freedom of action and of contract,—YpUJ'S, etc., INVESTOR.
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https://paperspast.natlib.govt.nz/newspapers/PBH19321207.2.146.2
Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17956, 7 December 1932, Page 12
Word Count
133SINKING FUNDS Poverty Bay Herald, Volume LIX, Issue 17956, 7 December 1932, Page 12
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