8
I am very doubtful gamvery
about this. q46.
estimates until the arrival of the Appropriation
Ordinance, but they can be examined now in advance.
There is little to add to the Colonial Secretary's
comments and the explanatory notes in the printed
Estimates. The fall in exchange has thrown a heavy
burden on the Colony's finances and it is clear that
the new estimates must have been pruned with considerable care. In spite of the small figure
to which the Surplus Balance has been reduced, the Treasurer was justified, in the special circumstances, in again budgeting for a deficit. If there is no further fall in the dollar exchange it is quite probable that the deficit will be reduced to much
smaller proportions.
A small point to which exception might
be taken is the reduction in the subsidies to
Elementary Vernacular Schools. In hard times it may be necessary to check drising expenditure on education; but it seems undesirable to go back on
standards already attained.
? await further despatch.
(7) There seems to be no great objection to
this proposal, If the Government employed outside
contractors to carry out the loan works the wages
paid by the contractors would be included in the
costs to be defrayed from loan funds.
? Approve charge upon Loan Funds (subject
of the general francifle
to G.D. observations, in view
involved
1.M. Martin 6.11.30
P.TO.