The London County Council has sustained a great blow, Lord
Lingen, the Chairman of the Finance Committee, having tendered his resignation. His grievance is, that at a thinly attended meeting of the Committee, an amendment was carried altering materially the policy of the Council as to the repay- ment of its loans. This policy was to require equal instalments each year, without reference to the diminishing total; while the scratch majority wish for repayment "on the annuity system," diminishing with the amount of the debt. The effect of the change, of course, is to diminish the burden on present ratepayers, and increase it on future generations, which Lord Lingen deems both impolitic and unjust to those who have borne so teach in order to extinguish debt quickly. The Council, however, on a vote being taken, supported the new policy by 48 to 42. Lord Lingen is entirely right in principle, and is right also in emphasising his protest by resigning ; but the loss to London is very great. The incident confirms strongly our argument that these impersonal and fluctuating com- mittees cannot be trusted, and should be replaced by Muni- cipal Ministers.
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