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the school on its present site. it is quite
possible that if their hand is forced, the
Managers may have to give up the site, get what
they can for the buildings, and divert their
attention from secondary education.
5.
In the present financial circumstances,
and more particularly with reference to the line
taken in the Retrenchment Committee Report,
it would be useless, I imagine, to consider even
the possibility of remitting the loan. But
I suggest that the Government ought to be invited
to consider rather more seriously than they have
done the desirability of raising their annual
grant to the school with special reference to its
present financial embarrassment and the claims
that it has for preferential treatment. This
would be quite in accordance with the general
policy advocated in the Grant-in-Aia Memorandum
of the Advisory Committee on Education, significant
extracts from which have been quoted in the
Managing Committee's letter. Would it not be
possible for the Government to remit, say for
a period of ten years, payment by the school
of the interest and sinking fund charges on the
loan,
and to treat such remission as an annual
addition to the grant? From the accounts point
of view it would probably be easier to remit
a payment of $14,000 per annum than to increase
the estimates with a view to payment of en
additional grant to this extent, though if that
additional grant were spent in payment of the
interest, it would, of course, come to the same
think in
in the end.. In support of this suggestion
the accounts of the school require careful
consideration.
From the accounts for a nine
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