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ternative method.
while at times not prosperous it would no longer have the
alternative of pressing on the Colony to an undue extent,
or of relaxing an arrangement which at another time the
Colony would have no difficulty in carrying out, and the
Colony would be in a better position to appreciate its own financial position'.
(b) It is apt to give rise to constant misapprehension
even on the part of Members of Council and responsible
persons, and to be regarded as a tax levied upon the Revenues by the Imperial Government, instead of a re-payment
for expenses incurred, and
(c) It crampa expansion, and furnishes a continual
temptation to evasion when levied upon items which are not in fact sources of Revenue and appear on both sides of the account merely for accounting purposes.
The Ordinary Revenue and Expenditure of a Colony
represent as it were the 'Turnover of the business of
Administration, while the balance available for capital
expenditure on works which are remunerative either as
sources of revenue, or in increased comfort and amenities,
represents, (together with any sums passed to Reserve Account), the Profits or 'Margin'.
The Revenue and expenditure may be simultaneously increased, and are invariably increased in a growing Colony
from year to year without any necessary increase in woulth,
or expansion of this Margin'.
The permanent establishments cannot be decreased
er increased at will according to the fluctuations in the financial prosperity of the Colony from year to year, so that the expenses of Administration remain,practically the same however much the Revenue may decline.