We have to congratulate oar Richmond friends on the bucc 8* that Las attendfd tbeir fir^fc ntteinpt a 1 - raieiog n loan, not, thn' we have any desire to see them affee ei by tin boirowinp tnr.ni'i wbioh haa been so rife throughout ihp colony for the last eighteen y arp, but in the present instance the object in view ia to desirable a one that the re sidentß in that. pret,iy and flourishing township bavft an excellent, reason to give for " disoountiDg the fuiurv 1 The one thing wanted to make Richmond a most disirnbl- place to liva in is a plcniful supply of good pure water, and that ono thing is now (o be provided within a very abort time. The Town Bjard aiver tisrd for tenders for debentures to the amount of £2,500 to be issued under the authori y of tho " Local Bodies Loan Act 1886 ' iho security being a special ri'e rf 6 per cent on 6be annnal rental valu j of bII property inclndtd in the proposed waterworks scheme, together with tho ordi nary ratfß of all property within tho tow.-, diptrict. The tenders, of which there were a large number, were opened yesterday, and the amount applied for wts found to be £6000, or double that rrquired, the average pries being £101 12? 6d, ao that the expenses of raising tho loan will be more tban covered by the amount received a v ove par. There ih ovriy promise of the proposed waterworks proving thoroughly efficient, and more than sufficient for the wnmta of the residents. The stream from wt.ioh the supply ia ta bn obtrioed, which ia on the hill at ihb back of Mr Muntz'p, through whose property the main will bi laid, is a never failing one, having, with a viewto the construction of the waterworks being undertaken, bem tested during the last thrae summers, when it was found that the emallesfc quantity of water running through it during 24 houra was 48,000 gallons. Tha dam, which will have a storage capacity of over a month's Bopply, will be 400 feefc above Hodder's corner, and the full pressure exercised will be something over 1501bs to the (square inch, wbioh is considerably more tban that to be usually obtained in Nelson. 