The Express. — 1868-12-19 (London, England)

BIM. in the pound on the rateable value. A loan of 50,0001. has been taken to provide for contributions granted for minor improvement-, end the interest on that sum is 2,233/. 6a. 7,1., or 9.03 d. in the pound. making together 66,347 lir'. 7d., or 0.8;:d. in the pound on the rateable value. The maximum rate levied for general purposes is for pro*Aline funds for carrying out the morn drainage, and although spread ever 40 year, it will be repaid long before that period arrives ; but of that sum four millions will not be charged upon the general rates, but upon the coal dues. The rayment was of comparatively small amount, not extreding one-third of the annual rental. I prefer ed to put it in that form so that you may at once appreciate the charge that is made upon the public rates. I will suppose that the metropolis is a great estate, the treed of - which I estimate at sixteen millions, and if the rent of this estate is mortgaged for four months, which is equivalent to the rate, I do not think that it can fairly be urged that the property has been overcharged, and therefore it is idle for any one to say that we vein any financial difficulty. I want, however, now to state what is our difficulty. It is not a difficulty because we have overcharged the rates, or have we recklessly contracted loans, but it is our prospective difficulties, when we consoler the great number of applications which are constantly being made to us for necessary improvements of the metropolis. We are better acquainted with the wants of the people than any private individuals can be. and we have received the most pressing applications to undertake the improvements of Ludgate-Lill. Great Tower-street, and for some near the West India Docks and Wapping. There improvements have been pressed upon our attention with many others of a local character, which we are unable to carry out, but which should not be much longer delayed, whether it is by this board or some other board that might be charged with that duty We have to feel the neglect of former yearn, and as that neglect is crowded into the present requirements of the metropolis, it necemitates an amount of taxation which tie board finds it very difficult to raise, inasmuch as our taring powers are limited to the 5, rm of sewer rates. Ihe burdens which ought fairly to be borne by the owners of the property are now charged upon the occupiers of it, and there lies our difficulty; unless there is some re-adjustment of taxation to enable us to overcome the difficulty of meeting the requirements of the metropolis Our difficulty is not as regards the peat, but is pros^the as to what must be done in the metropolis by this board or some other, which will continue until parliament shall take up the question of the readjustment of taxation, so that the burden shall not fall replan the occupiers but upon the owners of the property. That is a matter which the board has from time to time discussed, and my only object in making these remarks is to destroy the impression that the rates are overcharged, or, in the language of the journals I have referred to, that this board is in the last stage of financial difficulties, and that we are unable to proceed with the ordinary dieMarge of our duties. Mr. Sasw willed to ask a question. In the return made to parliament on the motion of Colonel Sykes, and which was presented to the House of Commons on the 29th of November, 1867, the total debt of this board was dated at 6,513,266/. ; but in the printed report issued by this board of the accounts and works during the past year, at page 65, the total debts of the board at the present time were set down at 6,903,3661., being a difference of 1,390,6794 The Casimir; said the report only spoke of the transactions of the board up to March, and no doubt that would account for the difference. hfr. Riensaneow said at the present time the rates pressed very heavily indeed on the ratepayers, and he deprecated that the board should, in an evil day, have brought in a bill for the purpose of taxing the public. Such bills would be sure to fail, and he thought it was time that the board should hold their hands in laying out money for public improvements until there was a re-adindolent of taxation. The subject then dropped. The Finance Committee presented their annual estimate of sums required to be raised by the board for the year 1869, but the consideration of the subject was adjourned. The board agreed to contribute one-half to the cost of setting back No. 106, Fenchurch-street, at a cost of 6,2101., and also of Nos. el, 92, 93, 96, and 97, at an estimated cost of 13.2261. After a long discussion, and the transaction of some mot tie business, the board adjourned. 11 ALLANCIIOLY SUICIDE 010 A YoUNO