The Thames Star. Resurrexi. WEDNESDAY, APRIL 15, 1896. THAT LOAN.

Thames Star, Volume XXVII, Issue 8324, 15 April 1896, Page 2

The Thames Star. Resurrexi. WEDNESDAY, APRIL 15, 1896. THAT LOAN.

Why on earth are the members of the Harbor Board so unbusinesslike in their action—or rather inaction—with regard to the loan proposals ? The subject has now been on the tapis for six months, and at the present rate of piogress the matter will not be any further advanced at the end of another six months. Indeed, the tendency is backward rather than forward, and if the loan is still to be left in abeyance for another few months, as some people suggest, it is impossible to say where we will be by that time. The fact of the matter is that the Board has never really grappled with the matter yet. It is true that application has been made to the Government, and that the Loan Committee has endeavored in a half-and-half sort of manner to enter into negotiations with the Banks, but members have stated that nothing has been arrived at, and these two sources have apparently been finished with. This being so, the proper policy of the Boardisclearlyto call for publictenders for the loan. It was distinctly understood at the outset that, failing to move the Government, the money should be raised locally, and if the efforts with the Government and the Banks have proved as abortive as is generally understood, the duty of the Board is clear. We cannot, therefore, understand why there should be no seconder to the motion which Mr Gillespie has twice brought forwai'd on the subject. Even if the attempt to float the loan locally proves unseccessful —and we do not think it will—the making of the effort cannot possibly do any; harm and in the event of this final source being cut off, it will give the Board a just cause to force the hand of the Government and compel the latter to make provision for the future conduct of the port. These sombre anticipations, however, are as yet quite unnecessary. Nothing has yet occurred which warrants the supposition that the appeal to the public will prove futile, and we believe that the proposal has only to be put to the test to prove thoroughly successful.