97
the
must be received tenaciously. The Commission, before he can sanction proper increases; & by disallowing the vote of $25,000 to the water supply, sinking this
my action on
this subject-beyond repair & conjecture,
must be postponed till 1874; or by allowing the Civil Hospital to be built from the loan from the special fund. Understand
The total cost of
that the bank, a
bank, which is very recent
of importance, 1892
Kamaldumb is estimated at $100,000.
It is a considerable work to charge Revenue of 2 years, if the water supply is
smallly urgent. The capital of the special
Fund amounts to about $400,000; this is all
in the local Banks on
deposit without security, which is an undesirable precedent in itself; there is not much probability of the whole sum being
required in a few years: if the Colony undertook to repay the $100,000 in instalments of $10,000
a
year, the Bank would pay interest at the same rate (5%) as the Bank's now do to the Special Fund, the latter would be in exactly the same position, the Bank would be as secure as possible,
the future Revenue would be charged at the
most with $15,000 in any year,
instead of $35,000
as shown in this year's Estimates.
I think Mr. C. Dennedy ought hardly
to have taken credit for the whole amount in calculating the Revenue to be entirely sufficient to meet his Expenditure for 1873. You
will see
that Mr. Rounds' estimate then showed a little margin left
to meet
the unforeseen Expenditure that was
always in
the
course of the
year. Should there be excess inclined to meet when
available balance
as
I say of $50,000 being put aside as
he does
the Colony. It should be tried
not to interfere with what he proposes
regards the Police. But I do wish
No return of the special fund is included in these sectores, mistress have directed.