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FINANCE-GREAT AND SMALL.

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FINANCE-GREAT AND SMALL. SOME CORPORATION PROBLEMS. For thi« relief, much thanks," said Francisco in the play. For twopence in the £ off the new rate, Swansea will also say to its Council, much thanks. Small mercies are mercies after all, and when the town had been led to expect no relief at all but a continuance of the back- breaking rate call, it is grateful for a little. The ratepayers, however, with one accord are sure to make the mental reser- vation that it might have bcenore. Some indeed may be temerous to think it ought to have been more. Such is the spirit, alas, engendered by contemplation of things like September Cash Papers wherein matters trivial enough in com- parison with common transactions of a cor- porate body, nevertheless fill the eye and cause a vague sense of dissatisfaction. So are ratepayers made. Perhaps the dispen- sation under which matters stand thus is not unjust, for as the small talk of a man is an index to his mind, the trivial deeds of a Council are clues to their out- look upon greater transactions. Economy! Let a committee calmly sanction the at- tendance of its chief official for three days at a London convention to talk about an- tiques, and who will champion its zeal ou behalf of rates in war-time? By tneir fruit shall they be known. We have the habit of thinking in ha- pennies, and the habit is a salutary check upon extravagance in pounds. Councillors who thought in ha-pennies at the Swansea Council on Wednesday did the town ex- cellent service, especially when the protec- tants were themselves clear of respon- sibility, and able to put their hands upon their hearts and declare that their com- mittees ought not to come under the rod. The situation of one alderman who flourished the famous Cash Paper, and hoped that this" would stop, was in this respect somewhat embarrassing. When Ald. Davies had his notice pointedly drawn to the coount for an official's attendance at the London meeting of the Museums Association (July 6-8— £ 5 6s. Sd.) his answer was that the chairman of the Arts' Committee did not go. This led up to the policy of thorough" suggested (in irony it afterwards appeared) by Mr. Wm. Owen; a clean sweep away of all delega- tions and deputations, which although it secured a majority of votes, Was not per- severed in. It is, however, as certain as most things can be in this uncertain world, that future Cash Papers will be singularly clear of ciicb records as occu- pied a considerable portion of the Sep- tember number. Such things as these are the dessert of the Corporation menu. There is more sub- stantial fare. No more significant state- ment was made at Wednesday's Council than that contained in the speech of Mr. Macdonnell in moving the confirmation of the Finance Committee minutes. When he made it the Mayor had to use his hammer to oecure attention, so uninter- ested are most people in affairs which do not involve persons. This was the state- ment You will eee that we have been suc- cessful in renewing a large number of loans which we had notice to repay, and you will be glad to hear that these have been renewed upon very favourable terms indeed bearing in mind the posi- tion of the money market. I do not wifih, for obvious reasons, to state the rate of interest in each case, but in no case does it exceed 4i per cent., the credit for which is due to the skill and tact of the borough treasurer. High finance is puzzling to the heads of the vast majority of people, but the war is educating us into some of its intricacies; at any rate most who read these lines will realise that the town is ili the debt of Mr. Ash- mole for extricating it out of new difficul- ties which might have had their effect upon the rates. # What the problem of interest means to the town, what is involved in slight or large increases in percentage?, may be gleaned from two items which also ap- pear in the Cash Paper: C c r1 Consolidated Loans Fund Account: Half-year's interest due on Swansea Corporation 3* stock 15,447 6 10 Chief Cashier, Bank of England: Half-year's interest due on Swansea Corporation 3! Stock 15,447 6 10 Of. for the purpose of bringing this ques- tion of interest before the public eye, we may go back to the last-published ac- counts. wherein there are records of pay- ments of £ 21,447 on Corporation 3* per cent, irredeemable stock; of 917,388 on Corporation 3 per cent, redeem^le stock; and of U3,318 on Corporation 3i per cent. redeemable stock; besides to sundry mortgages, £ 4,076. Iligli finance, the position of the money market, the terms secured, are after all of infinitely more importance to the rate-paying public than piquant questions of personal ex- penses. So Swansea will echo the satis- faction expressed by Mr. Macdonell over the terms of renewal secured for "a large number of loans." Many a man in busi- ness will wish that his own star will shine as cheerily. # Looming in the distance is the question of the Corporation guarantee to the Har- bour Trust, wherein is involved matters of tremendous importance to the town. .not only of a financial nature but of wider application. Some of them were guardedly referred to at the meeting. They will doubtless be thrashed out when the Harbour Trust and Council com- mittees meet in conference. We are facing a perplexing: period, and although the chairman of the Finance Committee probably did not have this matter in mind when he spoke, it is well to have the prediction that "the strong proba- bility is that future rates will be less than this Year, and that when the war is over, they should return- very nearly to the normal amounts of the past few years." May Mr. Macdonnell's shadow as a prophet ever grow. :1= # To gc-tbaek to the small things of which we talk moet! What is the general policy of the town to be regarding the war-time maintenance of the Library ? We see that one Council has resolved to purchase only useful" books, by which we- take it is meant works of reference and of technical vulue and the temporary banishment of fiction. Such is not the present policy of the Library Committee, for in the minutes which came up for adoption on Wednesday were the following: Resolved that the works marked approved (general, 20 volumes; juvenile and fiction, 7 volumes) be recom- mended for immediate purchase at a cost of X2 10s. Second-hand Books.—Resolved that the works marked approved (general, 12 volumes, fiction, 14 volumes) in the list submitted be recommended for immediate purchase at a cost of Æ3 15s. Small amounts. Yes. But is there not enough fiction at the Swansea. Library to meet pwsent n.eeds?

7-7- -=- -1 IBOOT THROUGH…

I OFFICIAL NEWS TO SWANSEA…

-REV. J. R. CAMPBELL RESIGNS.-I

WITH THE V.T.C.' —

IMEETING OF SKETTY RATEPAYERS.

I IMPERILLED THE SHIP.

I GOWERTON -PATRIOTISM.

I - ,!z -?: - - -TO MAKE SHELLS.

[No title]

I WHY RUSSIA FELL BACK

r -I NEIGHBOURS QUARREL.

RECOGNITION OF GOWER PASTOR.

I SWANSEA SOLDIER'S APPEAL.

IPROCEEDS OF CWMAVON CARNIVAL

1 WAITMG TaME.

DANYCOED RED CROSS HOSPITAL.j

I JURY'S RIDERS AT TURRYPORT.…

.-.16-?. - - 7=-I-LOCAL WILLS.

IFUEL-WORKER'S DEATH REPORTED

I PONTARDULAIS "PALS" SUFFER.

IMORRISTON BOWLS GROUNDSMAN.

Advertising

LOCAL POLICE COURTS. I

ENDANGERI NG TH-EI-R' LIVES.…

[No title]

PASSPORT IN LONDON.

CONGREGATIONALISM AT CARMARTHEN.

| PATRIOTIC ST. CLEARS MEN.

IMORRISTON LAD MISSING.

CARMARTHEN MEN IN THE LISTS.

IAMMANFORD MAN WOUNDED.-1;

ILLANDEBIE MEN FALL. ( ———I