UNKNOWN

Southland Times, Issue 4496, 7 December 1882, Page 4

UNKNOWN

to,— "Look on thw~ picture and on tha^andsay ; no T t'triat < 'comp»ritODiftr« frtth froimd wm inlhat Wkrt oJ his iiddreat i» wUtt h« unfold^* icn«me^for the conwSS^ necemry town im. piQTmwf by^lie ii»u« of a «100,000 loan. Hif tgum, wntell^will b« »ond eliewhew, prove c«»l6»iTtiy that in the '.'fnM%^S ! of mnkitb toch^uUtmtHgt^Bi pa cent., JhrtoWi* •ftiinnttal $**WJ* £5000, would be greatly preferable to. the continuing t6-pbtttr ! along with the aid of a bahk overdraft of from £8000 to «10,000, for which, as he pertinwitlyTre. mar¥ed; there was no guarantee that the bank wonld not require interest oi from » to 10 per cent. It needs so argument to •howiftat if the .town, by adopting Mr McDonald'! scheme, canbe placed in posses, ■ion of i^mym *P^ <2p,OopibM cash, and yet have but little more than its present annual liability for interest, . it is worthy of ■erious oonsideratiohil. TiT !•;.'.! Air *>. In "Hew of these prospects, Mr-McDonald's proposition rn^^alarm, no onjs;rvTh«re isTiothißg- :•■ 4Mjifa.iffelnfcY%. : ', it^wmplHi^naW^, «^ townidibbta^ amuch-newed.snm of money — from"£l6;oob (6 *20.006^w*out m^terif ally increasing the annual demand upon it forinterest. • y^*^' a ar' »,«•»■ %£