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Colonist, Volume LX, Issue 14875, 25 September 1918, Page 6

(To the Editor of "The Golonis-t."}

Sir, —You honour mo in your leader this morning wibh quite a nice war-time title, viz., "Catch-penny philosopher." I thank you, Sir, for the compliment. But the writer objects to being misrepresented as one, who, for lack of intelligence, thinks "all'outgoings in the form of rates are irretrievably lost." On the contrary, I have never "objected to borrowing money, oither for private investment or public enterprise, when clearly shown that, such liabilities were prudent and absolutely profitable. Tlie wiso gentlemen of the Harbour Board say "this will be .the only opportunity" to purchase the wharves, etc. But some of us regard this bald —unsupported and unwarranted—statement as simply catch-vote '"bluff." Who knows that after the war another, and perhaps more advantageous, opportunity may nob be available—iwhen the mpney market is normal? Then, even "if the price be more, it may be very much cheaperto purchase the wharves, etc., by raising a loan on a lower rate of interest, involving a smaflor tax xipon the ratepayers "Old birds are not often caught with chaff!"—l am, etc.,

- . H. G. BERRYMAN Stanley Downs, Sept. 2-1, 1918.