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$8,000,000 at 1 per centim stamp duty....$80,000
$4,000,000 at 34
do. interest......140,000.
Difference in favour of revenue 60,000.
Expenses are estimated at $15,000 per annum leaving
a net increase of revenue of $45,000.
It should however be distinctly understood that the
suggestion for the issue of Government notes was made not on
account of the necessity of increasing revenue but almost
solely on account of the fact that for some years there has been a difference between Bank notes and legal tender amounting to as much as 34 per centum and also that Goverment is responsible for the furnishing of a convenient currency.
(Sa.) A. M. Thomson,
Treasurer.
5th. June, 1909.
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