171
t
}
should be not less than $200,000 and I have accordingly to
request your sanction to that figure. The value of the exist-
-ing stock on the 31st. of last December was, however,
$282,583 and the new limit cannot, therefore, be made effective
until the necessary reduction in stock has taken place. The
Director of Public Works has represented to me that in his view
the value of the standard stock should be fixed at a much
higher sum than $200,000.
I have the honour to be,
Sir,
Your most obedient,
humble servant,
Mungary
Governor,&c..