From this the great value of the Lots will be seen, and it also shows that Government was not put to much expense in building the Nullah. The amount spent on its construction, $10,485/4 (see Report and estimate) was far more than covered by the Premium ($17,000) which the Lots fetched, and in fact was nearly covered by the Premium on one Lot only.
Further, when in addition to annual Ground Rent and Premium the expense incurred by the tenants on the wall is considered, it is not unreasonable to suppose that the undertaking of the Government to construct the Nullah had a large influence on the biddings, and that without such undertaking the high Premium would not have been realized.
I note that I ought to have supplied more information than is given in my dispatch and the accompanying estimate, and I regret that I did not do so, but it seems to me that probably my use of the expression "Keeping faith with the French Government" is one cause of the suspicion with which my dispatch has been regarded. I added "the French Government" who are the holders of the two...
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