In the first of despatches I pointed out- (1) that the estimated available balance at the close of this year would be entirely absorbed in the completion of public undertakings at present sanctioned by your Grace and in progress. (2) that new public work could only be undertaken for the future out of the proceeds of new land sales- and (3) that the ordinary revenue of the Colony for next year could not be estimated at more than £115,000, while the ordinary expenditure amounted to £100,000, leaving a margin of only £10,000 to meet all contingencies.
8. I accordingly asked in the second despatch above referred to, not that the military contribution demanded for next year should be remitted, but that time might be allowed for paying it until a large portion of the amount now being invested in the mint be recovered.