378
hands of the Manager of the trial Dante are comparatively manifest.
5.
It is not possible to forever control the Course of exchange, but according to the most trustworthy opinions obtainable in the leading circles, there is literally no prospect of the rate going above par, unless under very exceptional circumstances, which would then be temporary. Thus it would be preferable to restrict to the lowest possible amount the remittances to England.
6.
Should the loan be raised in this Colony the amount remitted would be limited to the expenditure in Stores and Machinery which are not purchasable here viz:- Iron pipes, Machinery &c.
£
12,000 - 0.0.0
300.0.0
7,000
$19,500..
300, 0.0
420,000
And hence the loss arising from Exchange would be reduced to less than one half, which is a substantial saving.
7.
I agree with Mr. Cruise that a Loan would be popular, and would be readily taken up