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Vestry not being able to amalgamate the two Accounts. On this
being represented to the Treasurer, he readily assented to an
arrangement proposed by the Vestry last year, by which a balance
on one account may be set against the overdraft on the other. It
is believed that by this means a large annual saving in the charge
for interest will be effected.
LOANS.
The only loan now outstanding is the sum of £4,571 8s. 6d.,
being the balance of the loan of £8,000 taken up in the year 1880,
for wood paving works in Regent Street (Oxford Street to
Piccadilly Circus). The loan is secured by mortgage of the General
Rates, and the final payment in respect thereof becomes due
in 1887.
COLLECTION OF TAXES.
The Chancellor of the Exchequer having made a proposal in
the House of Commons to transfer the collection of the IncomeTax
from local collectors to officers appointed and controlled by the
Excise Department, the Vestry requested the Members of Parliament
for Westminster to offer the proposal their strenuous
opposition, and suggested to the other Local Authorities throughout
the Metropolis the adoption of a similar course. The grounds of
the objection taken by the Vestry were that not only is local
knowledge essential to prevent unnecessarily harsh measures being
adopted in enforcing payment of taxes, but that it is also useful in
preventing frauds on the Revenue.
Before the Bill dealing with the subject was brought on for
discussion, the Chancellor of the Exchequer intimated that the
Government had abandoned their intention to make the contemplated
change.
RATEABLE VALUE.
The rateable value, according to the last quinquennial re-valuation
of the whole Parish in 1880, amounted to £666,813. This amount
has since been increased by three supplemental valuation lists, and