∞
Busand
fage 196
This is dealt with to come
extent in (7) 118) 1482518,
frother lety, will go from Fina day or two. But we may as well emplasice in
our dispatch that they raise their Evan Coully
ment
Provision is made to spend $1,000,000 from
surplus balances in respect of the Naval
Arsenal.
It is estimated that nearly $2,000,000
eill be expended on Loan Works in the forth-
coming year to be met in the first instance
from surplus balances.
It may, however, be
necessary to raise a loan towards the end of
the year.
At present Hong Zong is in a more favourable
financial position than most Colonies.
? Telegraph, approving the Estimates, to be
followed by despatch signifying non-disallowance
of the appropriation Ordinance. I understand from
Mr. Calder that we should not be
Continue, likely to in the fresent circumstances (a relatively hostenguskolory such as
fumery Houghtong to raise a loan
In this counting at the end in
at the end of neck
year.
The Incasurer evidently has in
mind a local loan hut it would
farhaps be well to
convey
to the Goo. I
the desfatch that affroval for the floating a loan in this country would not the likely
to be forthcoming. of fact is is fact tus portions. Affroust,
the night he exfnensed of the effenditure or education farticularly the grants-in-aid. Some expression
the mcreased