| Expenditure. | ||
|---|---|---|
| On Capital Account. | On Maintenance and Working Expenses. | |
| (See Note A) 25 Miles road (city) at £4,000 a mile | £100,000 | £2,500 |
| ( „ B) 6 miles additional roads, country estate at £1,200 | 7,200 | 350 |
| ( „ C) Circular railway and bridges, 5½ miles at £3,000 | 16,500 | 1,500 (maintenance only) |
| ( „ D) Schools for 6,400 children, or ⅕ of the total population, at £12 per school place for capital account, and £3 maintenance, etc. | 76,800 | 19,200 |
| ( „ E) Town Hall | 10,000 | 2,000 |
| ( „ F) Library | 10,000 | 600 |
| ( „ G) Museum | 10,000 | 600 |
| ( „ H) Parks, 250 acres at £50 | 12,500 | 1,250 |
| ( „ I) Sewage disposal | 20,000 | 1,000 |
| £263,000 | £29,000 | |
| ( „ K) Interest on £263,000 at 4½ per cent. | 11,835 | |
| ( „ L) Sinking Fund to provide for extinction of debt in 30 years | 4,480 | |
| ( „ M) Balance available for rates levied by local bodies within the area of which the estate is situated | 4,685 | |
| £50,000 | ||
Besides the above expenditure, a considerable outlay would be incurred in respect of markets, water supply, lighting, tramways, and other revenue-yielding undertakings. But these items of expenditure are almost invariably attended with considerable profits, which go in aid of rates. No calculation, therefore, need be made in respect of these.
I will now deal separately with most of the items in the above estimate.
A. Roads and Streets.
The first point to be observed under this head is that the cost of making new streets to meet the growth of population is generally not borne by the ground landlord nor defrayed out of the rates. It is usually paid by the building-owner before the local authorities will consent to take the road over as a free gift. It is obvious, therefore, that the greater part of the £100,000 might be struck out. Experts will also not forget that the cost of the road sites is elsewhere provided for. In considering the question of the actual sufficiency of the estimate, they will also remember that of the boulevards one-half and of the streets and avenues one-third may be regarded as in the nature of park, and the cost of laying out and maintenance of these portions of the roads is dealt with under the head “Parks.” They will also note that road-making materials would probably be found near at hand, and that, the railway relieving the streets of most of the heavy traffic, the more expensive methods of paving need not be resorted to. The cost, £4,000 per mile, would, however, be doubtless inadequate if subways are constructed, as probably they ought to be. The following consideration, however, has led me not to estimate for these. Subways are, where useful, a source of economy. The cost of maintaining roads is lessened, as the continual breaking-up for laying and repairing of water, gas, and electric mains is avoided, while any waste from leaky pipes is quickly detected, and thus the subways pay. Their cost should, therefore, be debited rather to cost of water, gas, and electric supplies, and these services are almost invariably a source of revenue to the Company or Corporation which constructs them.
B. Country Roads.
These roads are only 40 feet wide, and £1,200 a mile is ample. The cost of sites has in this case to be defrayed out of estimate.