broker's would probably produce considerable sum Being able to turn attention at length to the important subject of Revenue, hope at an early period to be able to report progress.
My great care is to avoid, if possible, any fiscal burdens on the Commerce of this new Port, whose principal attraction must arise from its freedom compared with the Chinese Ports. All the sources of Revenue above stated by me independent of the income from Land. Of Land & Rent hardly anything was collected previous to my arrival, and the greater part of the Leases had still to be made out. I issued orders for the speedy performance of this duty, which I trust is now in a state of advancement.
I must observe that all the sales have heretofore been made without a single deposit. This has given a degree of uncertainty to these transactions and enabled persons to bid as mere speculators who were perhaps unable to make good the conditions of the purchase. I have taken into consideration the necessity in future sales of requiring a deposit of a certain amount per cent, which shall be forfeited on the non-completion of the bargain, or the failure to pay Rent.
Under the circumstances above stated, the income which will be received from the Leases of Crown lands of this Colony already sold, is still somewhat uncertain, but at the most it will not exceed £250.
I have the honour to be,
My Lord,
Your Most Obedient;
Humble Servant
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