;
399
9
Bevinder?
unlimited time is for all practical purposes as valuable as the freehold. This would be recognised in the case of any very long lease.
6. Moreover in all this discussion it must be clearly borne in mind that the recorded value of military lands remains in the possession of the Colony until its expenditure on the defences of the Colony becomes necessary.
When that necessity arises, the value of the ceded property can only be expended on land or buildings essential to its defence within the Colony. In the meantime the Colony has the use of the property or of the unexpended funds resulting from its sale, but it has no claim to make what would really be an addition to its general funds by permanently diverting to ordinary uses any portion of what the memorandum refers to above.