382
and fully stated.
4.
e & Spirit Farm
Farm was
proposed in 1879 by a former
Governor, but, as at that time
there were no
large Public Works on hand, and no claim had been
advanced by the Imperial Government for large payments (in addition to the annual Military Contribution of Twenty thousand pounds sterling) towards £20,000. the cost of the Defence of the __ Colony, there was no -necessity for
no
an
* See Sir John Hope Hennessy to Decretary of State /
W.36 of 2nd April, 1879.
7499
an increase
of the taxation; and
the matter was allowed to drop.
et Spirit Farm has
worked well during several years
- past in the neighbouring Colony of the Straits Settlements. It will
be seen that the Treasurer calculates that if we pay five (5) per cent in Interest and three (3) per cent for
Sinking Fund, the annual charge
for
a loan
of
a million dollars
of
#80,000 will be eighty thousand dollars.
He thinks that we
$100,000 depend
may
Joon
on one hundred thousand
dollars
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