18381
327
3.
Again by the suspension of remittances to the
Crow Agents the over-draft which virtually amounts at present to about £1,300,000 will be more than repaid to the Bank in the course of twelve months from the surplus of local revenue over expenditure and the Crown Agents can in the meantime continue the system of advancing sums required from time to time for expendi- -ture in London until such time as the matter may be disposed of by an addition to the Loan or otherwise.
4.
I would therefore suggest that if conditions in London are unfavourable there is no pressing need for carrying out at once the necessary financial operations for finally cover- -ing this extra expenditure on the Railway and that the raising of any additional loan can if desirable be postponed at least till the time arrives when the Colony is in a position to resume in ordinary circumstances its regular remittances to the Crow Agents.
Since the above was written I have received
your telegram of the 17th. June informing me that the proposals made in my telogram of the 13th. June are approved.
5.
alla
I have the honour to be,
Sir,
Your most obedient,
humble servant,
Claudtever
Officer Administering the Government.
T