LOCAL BODIES’ LOANS.
IN connection with local bodies’ loans it is interesting to note how little official recognition of genuine assets is given in comparing the indebtedness of local bodies with the assets. In the Local Authorities’ Handbook, 1926, it is stated that at the end of the finan-. cial year 1924-1925 the a/ssets and liabilities of boroughs were £28,435,969 and £24,613,377 respectively; while the •assets of counties were £2,854,876 and liabilities £6,152,817. There is an enormous difference in the comparison of the county figures, but it is clear that the difference existls only on paper, for we find that while tramway systems, gas works, and other borough undertakings are classified as assets, the roads end bridges, the great work of county councils in opening up the country, are not included, although they are very real assets indeed. We believe that the work done by the councils is an even greater asset to New Zealand than some of the com.mercial undertakings of the towns which, in many cases, are depreciating every year and are not economically profit-earning.
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Waipa Post, Volume 32, Issue 1788, 29 July 1926, Page 4
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177LOCAL BODIES’ LOANS. Waipa Post, Volume 32, Issue 1788, 29 July 1926, Page 4
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