I cannot sanction this. Vote 15. From the statement of Assets and Liabilities of Treasurer it is shown that there is a sum of $360,000 deposited at interest in the Local Banks. In my predecessor's despatch No.133 of the 2nd of Sept. 1879 it was pointed out that under ordinary circumstances steps should be taken for investing these sums in England in securities of a 1st class.
You were informed that in view of the important Public Works which it was proposed to undertake, instructions would not be issued pending a further report from you, and your early attention was invited to the point. Little notice appears to have been taken of this.
RAFT. Mr. Wingfield. Mr. Bramston. Mr. Meade. Mr. Herbert. Mr. Courtney. Lord Kimberley.