for
the sake of the premises
on
the terme above specified, subject to the latification of the Recitary
of state. The mes
Smith accord=
$40000
singly paid down the $ 40.000.
and have been let into pfession
was
of the premises. But ih stipulated in the contract that if the latification of the secretary, of state were
refused
ox noh
obtained wittiin 12. Months
from the 7th debyy lach, the
sebep
£40.000.
are
to be repaid, and the Mess Smith are to be
allowed to occupy the premises
ཞུ་
for 5 years at a Went of $ 2000
per annum).
3.
Considering that the
buildings are now
werless
and
68
difficult of disposal - that they coch, including interset on the outlay, the large sum of $450.000. and that the longer thing lie idle- the greater will be the annual lose to the lotany, it appeare lop. to me that the Governor exercised a sound discretion in acespiting subject to the approval of the
offer which Secretary of State, an
to be the moch Javorable
themes
likely to be obtained. It is more advantageous for the Colony than a lease for 5. years at a rench of $5000, which the Atting General is the rack rent_
sap
Earn
ན
corn apuming that at this
thee term for which the
Ind
of
prenciers are to be occupied