THE POWER BOARD LOAN.

Waipa Post, Volume XX, Issue 1243, 16 May 1922, Page 4

THE POWER BOARD LOAN.

AFTER the very lucid explanations which have been given in the various centres, there is no excuse for ignorance on the part of the ratepayers as to the exact nature of the loan proposals put forth by the Te Awamutu Electric Power Board, and upon which they are invited to record their votes to-morrow. In a nutshell, the Board proposed to accomplish by the application of the co-operative principle that which is impossible individually at present owing to the prevailing financial stringency. Briefly, it proposes to borrow up to £25,000, which it will lend to individual farmers in sums sufficient to instal electric motors, power, and lighting. This, in turn, will afford the Board that revenue which is essential if the collection of special,security rates is to be obviated\ Thus the adoption of the proposals will operate in three directions in which its advantages are bound to to exert themselves, viz. (I) a modern,, efficient, and clean system of power and lighting would be provided the farmer at the lowest possible cost; (2) the Board would derive sufficient revenue for its requirements by providing this service instead of collecting a special rate from which the farmer would receive no immediate direct bentfit; and (3) money now going out of New Zealand for benzine would be retained in the country at a time when the urgent need to restore the trade equilibrium is for more exports and decreased imports. The arguments in favour of sanctioning the loan are so overwhelming that ratepayers should have no hesitation in recording tomorrow in favour of the proposals placed before them.