PATEA LOST LOAN SCHEME.

Wanganui Chronicle, Volume XXIV, Issue 9660, 14 June 1882, Page 3

PATEA LOST LOAN SCHEME.

TO THE EDITOR. g rß) — Keferring to the " no loan " for Patea, you truly, truly, say Patea should know its business best ; but still no young town can properly progress without the aid of borrowed money. The enormous jncicaso in value of town sections, and country property adjacent to Patc-a, by the money spent on the Patea River leaves no doubt on that point. The contract price of the breakwater was, in round numbers, twelve thousand five hundred pounds. Engineer's salary and other expenses properly chargeable to breakwaters, about one thousand five

i hundred pounds. The actual money >. borrowed has been ten thousand pounds. ,' Best business sites from Taphn's corner ; 'to a short beyond the post office i icould, before the breakwater was started, i be readily,had at £3 up to £ 5. per foot, i tte latter being then' about the highest " Value. . Since then, . land has realised • over :£l4 per foot ; JEI2 per foot has been i the_ ordinary selling price, and it is ■ questionable, dull as. things now are, if . any central sites could be obtained at 1 that price. Country properties during • the sane period have risen from about £8 to £15 and £20 per acre. Properties i nearer town, formerly of low value as dairy or grazing paddocks, have sold at ' enormously increased values as suburban i residence Bites. But for the improvement of the river, -with the consequent improved trading facilities, Patea town properties would still be of insignificant value, and adjacent country properties would certainly be pounds less per acre in value than now. The enormous advantages in value to property, and in trading facilities, have been secured, without any call whatever in the shape, of special rates. So much for the advantages of borrowing money for useful publio works. Regarding the proposed borough loan of five thousand pounds, which fell through on Tuesday last for lack of three votes, there is scarcely any difference of opinion. The general progress, very much forced on by the harbour improvements, necessitates improvements in the town. The town was formed into a municipality specially to enable money to be borrowed. The present! Mayor was elected to carry out ,the very works enumerated in the borrowing scheme, the lesser loan. and .scheme of the rival candidate being less ' in favour, as ' evidenced by the election of Mr Sherwood, who till then had for a couple of years stood aside to give others a fair field in town matters. The ' Borough Council is really the old Town Board, with the addition of some younger men of but ordinary intelligence, and of no public experience.' To. all intents and purposes the . old Town ■ Board rules. It ■ could never look ahead. •It "comprises men who' have jumped to comparative wealth, in a great measure by the enormously increased value given to property from river improvements, and consequent stimulus to trade and increase of population. Among- them: are former opponents of what has proved of such material benefit to all. Enlarged capacity has not come with increased wealth. 1 Hand to mouth, and self, it was — so it is desired to remain. Ideas properly 'belonging to a more primitive state do not fit present circumstances. • The old Town Board element, and other wouldbe rulers, cannot see this. Each is too utterly well known to the other in every struggle of life and step of monetary progress to budge one for the other. Prejudices and the littlenesses of old remain, though ambition has been stimulated to reach for the honours. This old party feeling and strong self-willedness is ruination to the public interest, and a complete clog to advancement. Ratepayers appear to be .deemed shuttlecocks, to be played about by (non) councillors who have ruled in the past, and who, mentally unable to rise to present requirements, would cramp everything to raupo-whare stage, else smash the crockery. In other words, "If we cannot continue to rule, no one else shall." From sush elements it is hopeless to expect a tough, fair fight, then a pull all together with the winner. Practically, the loan .and public works scheme was settled by the ratepayers in the election of Mayor. The losing side then should have gone full strength with the winners. Instead of that, it has been worry, worry, worry ; undermining here, sapping there, springing mines, and generally trying to rthwart. Ratepayers are the victims, and with them lies the remedy. "Clear the quarrellers out. Try new- men. If nothing brilliant were achieved, steady progress would be assured, and the dog-in-the-manger spirit which now dominates would be stricken. There is nothing to be hoped from tbe non-progressive ~old Town Board element. If they have not gracefulness enough to retire after this last exhibition of reckless sacrifice of the general public, they should be remembered at the next elections, and be no. more allowed jto play shuttlecock with ratepayers' interests.:— l am, &c, A Viotijt.