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(1) In the Assets and Liabilities for 31st Dec. 1890 a sum of $206,000 figured as "drafts drawn by Brown Agents in transit"; that probably a large portion of this would be on account of purchase of silver which would be in the mint. The coins made from this silver would be delivered in 1891 and increase our balances.
3
A large quantity of Stores paid for in previous years were issued and charged to works in 1891 and so the whole of the expenditure shown in the accounts was not really spent in cash.
That the arrears of Revenue in the 1891 Statement are larger than those in the 1890 statement.
In receiving these explanations the Colonial Secretary wrote to me as follows:
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"To make our statement of Assets and Liabilities complete, there should be entered on asset side selling value of coins ordered and paid for, but not already received, i.e. in transit? and value of stores paid for and not issued?
Quaere as to the latter as we have always to keep a certain stock in store.
Are you aware of anything per contra omitted on liabilities side?
To this I have replied as follows:
I agree with you and think the whole of the Stores are a real Asset as if the Colony had to go into liquidation we could realize those Stores although possibly they might not fetch cost price.
I know of nothing per contra.
As the Comptroller and Auditor General has apparently approved the present way of making the statement of Assets and Liabilities I do not think it should be altered without reference to him and I am writing to him on the subject."
I shall feel obliged if you will give me an expression of your opinion on the subject when I will inform the Colonial Secretary.
I have &c.,
(Signed) H.E. Nicolle,