The Southland Times. PUBLISHED DAILY. Luceo Non Uro. WEDNESDAY, APRIL 2.

Southland Times, Issue 3364, 2 April 1879, Page 2

The Southland Times. PUBLISHED DAILY. Luceo Non Uro. WEDNESDAY, APRIL 2.

«. The Legislature has wisely provided - for publicity being* given to the proposals of governing bodies haviug power to levy ratea on properties within their jurisdiction. This is so with regard to municipal corporations, although, as we .pointed out in an article on municipal finance some time ago, the publicity the corporation annual balance-sheets receive by being advertised in the local newspapers, is nullified by the fact that the period for which tbe- balance-sheet is prepared is not conterminous with the electoral year of municipal councils. Expenditure thereby may follow the publication of the, statement of accounts, and liabilities may be incurred by tho council in office to such aii extent as to practically mortgage + .he revenue of- succeeding years without the- fact finding, much public , notige. That .this, has not occurred -to any very alarming extent may be quite true, although successive' councils have generally complained that the revenue they expected would be available has been more or less forestalled by works in hand, which could not be stopped even if it was desirable to limit expenditure. Our comments are induced by the recent publication of the estimated revenue and expenditure of tbe Corporation of Invercargill for the financial year commencing this month, the publication being ordered by the 77th section of the Otago Municipal Corporations Ordinance, 18C5, under which the municipality is incorporated. An analysis ofthe estimate is, on the whole, satisfactory. That of ordinary revenue appears to have been carefully compiled, so that the actual receipts at the termination of the year should bear fair comparison with the estimate. Each item in succession from licensing fees, £1000, to harbor revenue, £250, can scarcely be objected to as too high. The next item, however, sale of gas, £6000, is nearly forty per cent, over last year's receipts, but upon inquiry we ' are informed that there have been during the past few months considerable additions to the list of consumers, and that the amount named is likely to be under instead of oyer the iriark. Passing for a moment the amount pro- . posed to be raised by the sale of the waterworks . debentures we come to that of " Deficiency." So far as can be gathered from the Ordinance, the intention of the framers of the law appears to be that the ratepayers should be made aware by this term of the liability that would accrue to them if the expenditure was not objected to, the "Deficiency" being leviable .-as rates on the property, liable for assessment, and stands in the estimate in lieu of rates for the year. This principle, however, has been "rendered more explicit by the General Assembly in the enactment of the Eating Act, 1876 which makes it imperative onevery local governing body to publish in a newspaper circulating in the district a notice of the amount of rate proposed, and the period- for which it is to be levied, and although the amount shown in the Municipal estimates is that which would accrue from a half-a-crown rate, the public need not be appjrehensive that such an unusual rate will be imposed without sufficient notice being given. the sum expected to be.realised from the sale of the waterworks loan, it may safely be stated that every citizen will look upon the estimate with considerable satisfaction; indeedwhcn the state ofthe town at its incorporation eight years since is considered, and the modest revenue Avhich was then anticipated is, compared with tbe statement now under review, the question naturally arises -as to the estimate that may be necessary 'when a similar period ot time has been passed; Probably *it is this „ knowledge which has begotten the con-' fidence in ,the future prosperity of the town and. district to the extent that has induced the' Council and public of Inver-' cargill to believe that the large r undertaking -which' will follow the successful floating of 'the waterworks loan may be -safely entered into endangering the" solvency of the Corporation. The | ' work, however, is one of such magnitude, , that its ' success must not be risked by 'hurry. The altitude*-- of the locality whence the water will- be drawn -from the Dunsdale must be such, as to enable the flow from the -fire plugs in town to effectually cope with any possible conflagration. ' It is this expectation, and the , assurance that the water is' of the utmost purity for- domestic purposes, that has" reconciled tuose .who voted 'for #ie loan

to the necessity of undertaking the liability. The scheme, however, is to be cautiously carried out, and every step taken must be thoroughly assured before further progress' is attempted. Especially is care :to be exercised . in. rendering assurance doubly sure in the matter of " pressure," for upon this does the success of the scheme altogether depend. The .Council will also commit a grievous ' mistake if it approaches the English money market without due caution.