to cost £45,000
or £50,000.
It
would therefore be much more expensive than
a
rough stone
breakwater and at the same
time it would not form such
a permanent barrier
7.
As
regards the cost of
constructing
a
rough stone
breakwater Your Excellency will
see that Mr Price's Estimate has
been inserted in a Statement
of new Public Works contemplated, which I laid before the Council
the other day.
I do not see
how the Colony can
undertake at present to borrow
any
money without
imposing extra taxes in order to meet the interest and sinking fund thereon, and it must be
remembered that
in the native
Shipping
any imports
Customs
tomage dues.
are
as
they
quite out of the question
would materially affect its
prosperity
I beg
The total cost
of these works is $2,500,000 or two
years Revenue
of the Colony
Hongkong is already pledged to
a Loan equal to one
year's
which
is raised to
construct the new
Forts and
to complete the new water works. The interest and
sinking fund
this loan
I have requested...
(signed) 11. St. Marsh.
to return the enclosures Excellency's
letter