56
such securities as Expital is often overflowing here and it is sometimes difficult to invest it at even 5 or 6 per cent interest. The large Houses have refused to receive deposits on such terms. It is certainly no obligation of the Government
to furnish individuals with water
more than
any
other necessary of life,
and as undertakings such as water Companies must partake of the character of Commercial Speculations and involve great responsibilities. I
am
strongly of opinion that our annual income is not fairly applicable to such speculations. I am quite willing that the Government should give appropriate facilities for
an
0
3179
important public object but the objections to a government building Sailor's Homes - or engaging the ordinary sources of revenue in supplying the pecuniary means for costly undertakings of uncertain result are in my mind unanswerable,
It is said we have recognized the principle in establishing a lighting Rate - but there is no analogy. No great outlay of Capital is involved in the erection of Lamp-posts and providing lamps. It is a far different question when a Government undertakes to provide water for the inhabitants of a large City - that undertaking implies a large expenditure of Capital
56
such cecurities as Expital is often overflowin here and it is sometimes - Sifficult to invest it at even 5 or 6 per Eent interest. The large Houses have refured to receive deprits on such terms. It is certainly no obligation of the bovemment
to furnish individuals with water
more than
any
other nec
any
necessary of life,
- and as undertattings such as water Companies must partake of the character of Commercial Speculations and involve great responsibilities. I
am
that
our
strongly of opinion annual income is not fairly applicable to such speculations. I am quite willing that the Goverment should give appropriate facilities for
an
0
3179
important public object but the objections to a government building Sailor's Homes - or
ordinary
sources
supply the
engaging
of revenue in
the
pecuniary means
for
costly undertakings of uncertain
mind unanswerable,
result are
in
my
It is said we have recognized the
principle in establishing a lighting
'Rate-but there is no
analogy. to
great outlay of Capital is involved in
吓
the erection of Lamp-ports and the
providing lamps. It is a for different question when a Government undertakes to provide water for the inhabitants of a large City - that undertaking implies
large expenditure of Capital
а
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