17
see minute
ING
the situation would have been considerably
worse had it not been for the fact that a sum
of almost 1,000,000 standing to the credit
of the Military Contributions Suspense Account
is to be credited to Revenue in 1935;
(3)
observing that the Governor, in his
speech to the Legislative Council, anticipated
the possibility that it may be necessary to
reduce surplus balances below the prescribed
minimum for a short period, and saying that
this course should be avoided if possible;
(4) noting that the Treasurer in
paragraph 34 of his memorandum states that in
the event of a further serious falling off in
Revenue or fall in the sterling-dollar exchange,
Government will immediately take in hand
suitable reductions in expenditure, and
suggesting the desirability of preparing in
outline a scheme of reduction in expenditure
in order that
it
kakaabase may be put into
A
operation without delay in the event of that
course proving to be unavoidable;
(5) referring to paragraph 3 of (4) on
13858/34 and saying that, although there is no
immediate prospect of being able to transfer
the cost of the new gaol from Loan Funds to
Surplus Balances, the desirability of effecting
that transfer should not be lost sight of;
(6) observing that the sum of $14,000,000,
raised under the authority of Ordinance 11/34,
will have been expended by the end of 1934, and
saying that the Governor will no doubt inform
us