265
that instead of being addressed to me, they are addressed to your Lordship. The Memorialists are still strongly impressed
"with the belief that
More
micreased taxation that is not
"Whatever is necessary," and if that proposition be
objectionable, then, of
course,
the discussion of
what
species of taxation is best becomes
superfluous.
9.
Now it so happens that whatever of novelty might be introduced into the argument consists of the fresh materials daily accumulating to prove that I had underestimated the
the Revenue. Thus
it
becomes probable that the $60,000 inserted in the Estimates as profit to set off against the expenses of the year in 1869, will not
be realised and except by selling land at
a loss, that is by offering it when the Market
is unfavorable, it will be unsafe to count
on
the amount of $85,000 expected to be carried to the credit of next
year,
which
must derive no
aid from the large capital raised by previous
land sales.
10.
I have therefore already notified to
the
Surveyor General that with the exception of the maintenance of existing Roads and Public Works he cannot at present make provision for any undertakings except supply of water and the drainage of the principal Chinese Quarter- matters too imperative in this climate to admit of postponement. This renders the Stamp duty