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endeavour
10. Although every endeavour has been made to effect economy without impairing efficiency, the estimated expenditure of 1895 shows an increase over that of 1894 owing to the depreciated value of silver. In the estimates for 1894 the dollar was calculated at the rate of 2/6, whereas in the estimates for 1895 the dollar has been calculated at 2/1, the current rate of the day.
This fall in value seriously affects the expenditure of the Colony so far as its sterling payments are concerned, the chief of which is the Military Contribution. The estimated expenditure under this head amounts to no less than $384,000, or about one-fifth of the entire revenue of the Colony.
I have already referred to this subject in the several despatches which are noted in the margin.
1245/11-"45" 1894/6
883793 1605 934 Estim 645994, 60t
11. From the enclosed account...
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