Feb. 6.
Mr. Ezra's scheme for relieving the community of the burthen of electricity loans and for causing a more genial flow of money into municipal coffers appears to us to be most sound and statesmanlike. Certain modifications may have to be introduced when: the information sought - from the Council is available: and certain conditions must be attached. For example, the debentures which consumers are required to take up must be of a new issue, previous holdings, at any rate those taken up after a certain date, not being allowed to count in extenuation of the stipulated purchase. Otherwise it would be possible for a wary consumer, on the appearance of these lines and in anticipation of the ratepayers' endorse ing Mr. Ezra's proposal, to go into the market and buy up as many old debentures as he thinks he may need at the present price of sixty-five or thereabouts. Again, it would obviously be necessary to draw a line below which there would be no obligation on consumers to take up debentures, for the benefit of those who use a few units monthly at power rates for domestic heating. Neither this class nor the ordinary users of electric light are aimed at by Mr. Ezra's scheme. It is the big consumers of power, for the most part if not wholly cor-parations, on whom it is sought to levy @ contribution that they can well afford. Out of their reserves it is certainly riot unfair to ask them to lend a portion to the community in return for the conveniences by which their wealth has largely been amassed.
It is frequently urged by speakers at ratepayers' meetings and in electricity reports that there can be no finality to the Department's requirements, that as demand increases, so must the extensions of plant necessary to meet it. Now we cannot help thinking that it is a debateable question how far the community should acquiesce in extensions for the benefit of consumers outside the Settlement. It is well understood that the larger the scale on which electricity can be produced, the cheaper becomes the cost of production. But there must be a limit to this process somewhere, or logically it would seem that a point will be reached at which
Text read from the printed page and cleaned; old type leaves the occasional error.