.
* 36
154
K
L
M
shape of interest and sinking fund.
On the whole therefore especially as the amount is so
small I would feel disposed to make the attempt to float it in
Silver there would be no harm in trying it and if after that
experience has been gained it would then appear to be more
desirable to borrow fature larger suns in Gold you could do so.
If His Excellency should decide to borrow in Gold
would strongly urge that he should borrow at the least £200,000
and not £50,000 which is really too small an amount to ask for in
London or it might be possible to postpone for a year or so the
floating of the larger amount if the Crowa Agents could arrange
for a temporary loan of £50,000 either from the Hone Coverament
or the Bank of England in the same manner that the Home Government
raise temporary money on short dated Treasury bills - 6, 9, 12 or
24 months, this is a regular feature of Governmental Finance at
Home and surely they could assist a Colony like this to do the
same thing: by the end of 12 months you will be requiring consider-
ably larger suns as the Water-works ought to be further advanced
and the Building Ordinance ought to be passed and some of the slum
property resumed.
I have etc.,
(Sa.). S.K.F.Playfair.