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14. Turning now to the statement of cash li-
abilities and assets on 31st. December, 1897, the liabilities
shew a balance of $2,557 over the assets. If this sum is add-
ed to the balance of the loan viz.,$262,091 the general po-
sition of the Colony is a liability of $264,648,0wing how-
ever to my instructions which forbid the inclusion as an
asset of subsidiary coins ordered and paid for but not in
transit on the 31st. December last, the assets side of the
account is depleted to the extent of $350,000 being the va-
lue of coin shipped and received since the end of 1897. The
inclusion of this su as an asset would have shown the ge-
neral position of the Colony to be that of possessing sur-
plus assets to the extent of $85,352.
15. It occurs to me to remark that the Reve-
nue of 1897 was called on to bear the sum of $116,000 con-
sisting of the contribution of this Government towards the
cost of projected Jubilee memorials and of expenses incur-
red in celebrating the Jubilee locally. But for this unusual
drain, the Revenue would have exceeded the Expenditure by
$161,000.
(Sa. )T. SERCOMBE SMITH,
Treasurer.
8.3.98.