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on it by the Government Auctioneer.
That valuation, however, by no means comprises all the articles ordered for the private use of the Governor, which it will be necessary to purchase, if the house is to be adequately prepared for the reception of persons of distinction visiting the Colony. Vide Governor's despatch to Secretary of State No. 843 of 25 Jany. 1867.
5. I shall consider, in reference to the size of the house and number of the rooms, as also to the general style of living in the Colony, that the whole cost will not be unreasonable if it does not eventually exceed £1,500. According to the Duke of Buckingham's Circular, the Governor should pay interest on £1,000.
I doubt if it be right to charge the Governor interest on the whole of that sum, as £1,000 would more correctly represent his probable expenditure for furniture on account of himself and family. Moreover, if the Governor has the cost of entertaining distinguished visitors, that consideration should rather diminish than increase claims on him for the furniture, which leads to expense by enabling him to lodge his visitors at all.
6. I therefore suggest that the Governor for the time being be called upon to pay interest on £1,000 only, and that the rate of interest, if any be charged, should not exceed 4 per cent, as unanimously agreed to by the Council.