provision being made for this work should be defrayed from a loan.
3.
I have to request that you will transmit to me as early as possible the complete accounts of the year 1872 with a statement of Assets and liabilities of the Colony on the 1st January 1873, showing clearly what proportion of those assets cannot be regarded as available for appropriation. Should it then appear that there will not be sufficient funds to provide for the payment of whatever part of the cost will be likely to be expended this year, I shall be prepared to authorize your advancing the necessary sum out of the Capital of the special fund: this advance will bear interest at 6% per annum, the charge for which will be debited to the General Revenue, and will be repayable with interest by annual instalments of $10,000 from the date that the Hospital is finished.
I understand from Mr. Fairfield that it is likely to be some time before the plans are finally settled. I don't think it will be actually procured and expended this year.
16. In this way the income accruing from the investment of the Special Fund will remain precisely the same as if it remained deposited in the Banks; and the outlay on the hospital will not prevent your Government proceeding with other important public works, such as the improvement of the water supply.
17. Subject to the above remarks, I have to convey to you my approval of the Estimates, and Her Majesty's gracious Confirmation and allowances of the same.