2.
would at the same time enable it to start afresh without
any further assistance than would be given to it in the
usual way under the Grant Code. On the other hand even
if the loan were cancelled, it is probable that a further
request for financial assistance would sooner or later be
made in order to enable it to be developed as it should be
and to compensate its teaching staff adequately" (paragraph
28 of the petition).
4.
The proposal which was made to the School in
February of this year was that, subject to your approval,
Government should buy the buildings, payment also being
made for the cost of the site formation, approach road and
existing fittings, to a total value of $563,000. From
this sum were to be deducted the principal and all
outstanding charges of the loan. The balance would
have been sufficient to enable the School to re-establish
itself on a site to be granted to it free in the eastern
part of Victoria. The School would of necessity have had
to be conducted on more modest lines than it has been in the
past and the building proposals for the new premises would
have been carefully scrutinised by Government. The
School Committee however felt itself unable to accept this
offer on the grounds that it carried "a grave risk of
financial failure and loss of goodwill due to a breach of
faith with the many supporters of the School who subscribed
towards the cost of the present buildings". I do not
consider their reasons for refusing the offer to be sound.
Naturally the School would lose some of its pupils who
would not follow it across the harbour. On the other
hand I consider that the reputation of the School would be
enhanced
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