340
them is really a much larger
I
available for disposal. For mention
if the sums due to it "Special And"
be deducted from the Liabilities, we
should have a
balance of about
$500,000. Of course all this will
not be strictly available, by reason of
bad debts and like matters. But
then quite near the whole of it will
be.
Now this is just about the
sum required for the various great works
still remaining to be done:
New Jail say $75,000
Central School 75,000
Breakwater 80,000
Wath Works
---
$270,000 $500,000
(£57,000)
A Comm... grant
of the cost of the Breakwater a
sum of $40,000 from the "Special Fund" has
been sanctioned. Unless therefore further
sums are to be sanctioned from the "Special Fund" of which
$632,640 still remain, the accumulated
surplus at the beginning of 1901, will soon be swallowed up. Sir J. Hennessy
is therefore fully justified in his
reply to Keswick on
the question of accumulated balance
mentioned in the covering despatch.
A
It is also, as you have already intimated to Sir J. Hennessy, too early
to think of reducing taxation, although the state of affairs is by no means
unsatisfactory. Estimated surplus of the coming year being $98,241.
Now with regard to the
prosecution of the great works
in question.