THE Poverty Bay Independent. Published every Tuesday, Thursday, and Saturday Morning. Thursday, November 5, 1885.

Poverty Bay Independent, Volume I, Issue 70, 5 November 1885, Page 2

THE Poverty Bay Independent. Published every Tuesday, Thursday, and Saturday Morning. Thursday, November 5, 1885.

TO-DAY the ratepayers will have to detide whether they will agree to another loan for L 10,000. Whatever may be the general opinion as to the manner in which the Borough funds have been administered dnring the past two or three years it cannot be doubted that we have at last arrived at such a stage of pecuniary embarrassment as to necessitate the adoption of some means whereby we can relieve ourselves from the incubus of nine per cent interest on an overdraft of £2,300. Whether the raising of another loan is the best remedy for the fact that in spite of the great need for economy our present administrators still seem determined on increasing our liabilities, is for the ratepayers to judge. One thing is clearly apparent, and that is unless the ratepayers throw off the great apathy they have so long shown in all matters local, including experimental bridge building, they will only have themselves to blame when they find that they have to pay a rate of three or four shillings in the pound. Large sums of money are being constantly expended on works which might, in our present strained fiscal condition, well be either postponed or altogether dispensed with. As matters stand at present we have little reason for assuming that, even if the loan is sanctioned, that the relief will be of any prolonged duration, much less permanent. We have on more than one occasion pointed to what we believe would effect a remedy—namely, the division of the Borough into wards ; the rest would lie in the elections after the subdivision. All those who wish to favor the raising of the loan must go to the poll, as all absentees count against ; and it should also be made clear that there must be a majority of the whole number ol voters on the roll before the council can proceed to raise it. There are, we believe, some 283 voters on the roll, and it will require 192 votes in favor. We do not think the alternative has been fairly stated. It has been stated that, providing the loan is not sanctioned, the Council must, in order to meet the deficiency on the old loan, strike a special rate of four shillings and sixpence in the pound payable in one lump sum forthwith. But such is certainly not a necessary sequence, as the collection could be spread over several years. The strongest argument in favor of the new loan is that it will not alone enable us to meet our present engagements but will enable us at once to relieve ourselves from the payment of some six hundered pounds annnal interest on overdraft and loan, and still leave the rating at its present figure of eighteen-pence in the pound. Having stated this much we leave the result to the discrimina’ion of those who have to “ pay the piper ’’ while others dance.