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of the opinion which I have repeatedly expressed in former despatches, that the surplus funds of the Colony are not more than sufficient to complete those public works at present in progress which have received the sanction of the Secretary of State.
It must be borne in mind also that, for the reasons which I have before explained, a nominal excess of assets over liabilities $185,000 does not represent an available cash balance of more than $85,000.
If the large amount of $460,000 proposed to be expended during the course of the current year on public works, as shown in note (A) be not all disbursed during that period, the nominal excess of Assets at the close of the year will no doubt be correspondingly increased; but the probable sums remaining to be expended on unfinished works, as shown in note (B) will in such case be increased to the same extent, and no real difference will be made in the sketch which I have given of the probable financial position of the Colony at the close of the year.
the present