BOROUGH FINANCES.

Thames Star, Volume LXV, Issue 18239, 13 July 1931, Page 2

BOROUGH FINANCES.

(To the Editor). Sir. —While congratulating our neighbours across the river on the astonishing reduction in rates that has been made possible in the Hauraki Plains County, is it beyond reason to hope that something is possible to bring relief to suffering ratepayers in this unfortunate Borough? Vaguely one hears the Council is trying to do something. We have heard the same thing for years, but what is the Council trying to do? More' patient taxpayers than the burgesses of Thames it would be impossible to imagine. No information is made public as to the true inwardness of the position, nor as to whether relief is at all possible. We know that the annual balance sheet can be inspected at the Council’s office, but 1 venture to say that not one ratepayer has ever made -such an inspection, nor would the balance sheet give him the information he desires if he did so. Surely it is time for the ratepayer to be taken into the Council’s confidence, and to be told where he stands in the matter of the Borough indebtedness, and how it is proposed to deal with it. Can you, Mr Editor, obtain and publish tiie information that is so much desired, and that will enable ratepayers to obtain an intelligent grip of the position? What is iequired is a simple statement showing, say, (1) The total debt of tin Borough, loans and overdraft; (2) to whom are the loans repayable, and the annual amount of the repayments; (3) the amount of the inti, pledged as security for the jeans; (4) whether the rate pledged is sufficient to meet repayments on the present valuation, and, if not. whether the lenders are in the position of thousands of other mortgagees in New Zealand who, through force of circumstances, are compelled to meet their mortgagors either by a reduction oT"the mortgage,, or by an extension of the term that will enable the borrower to meet his obligations.—l am, etc.. RATEPAYER.