140
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moreover, little doubt that the savings which
inevitably occur every year will more than offset
the loss from the fall of the dollar. If the
liquid surplus balances of the Colony, estimated
on January 1930 at $8,041,363 may properly be used
to supplement normal revenue for the purpose of
meeting votes for Public Works Extraordinary, and for
certain heavy items of non-recurrent expenditure included under the heading of special expenditure, we are left with the following analysis for 1930:-
Estimated Total Revenue
$22,712,920
Deduct Land Sales
$1,000,000
Estimated Recurrent Revenue
$21,712,920
Estimated Total Expenditure
$27,268,515
Deduct Public Works
Extraordinary $3,840,750
Royal Naval Volunteer
Reserve disallowed
25,433
Certain heavy items
of non recurrent
special expenditure)
$1,015,000 $ 4,881, 183
Gross Recurrent Expenditure
$22,387,332.
10. These figures show an estimated
deficit of $674,412, as between estimated
recurrent revenue and gross estimated recurrent expenditure; but I fully expect the recurrent
revenue to exceed the already approved
recurrent expenditure in the light of past
experience.