A
Af
expenditure. If
or accumulated balances
you treat borrowed money as revenue,
there now can
can be a deficit. If you
do not treat borrowed money or
accumulated balances as revenue, but
get in include the cost of public works paid for out of borrowed
money
in the expenditure,
any
or accumulated balances, some
2009
we may
amount of deficit. It appears bona fide that Sir J. Hennessy is inclined to follow the latter course with regard
to the accounts of the Colony previous
to his reign and the
course
with regard to the accounts often during his reign,
2-18887. he blames
I harshly for excluding the Public Works
expenditure (paid for out of the "Special Fund")
337
from the general return of Colonial
Expenditure, and in the first printed Enclosure to this despatch (passage
marked at bottom of p.2 & top of p.3) he justifies the opposite course
by quoting
"instructions to Governors" of 1847 which forbid the use of the terms "Extraordinary" or "Special" Expenditure:
It is evident from what Sir J. Hennessy himself goes on to say, that the intention of these instructions was to prevent any
part
of the
expenditure being removed
from the ordinary course of central scrutiny. But even apart from
the fact that it has been found
convenient, according to the circumstances of a Colony, to modify
the system laid down in these instructions, there is nothing in
...
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