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C. 74567/80 (No. 4].
8
No. 10.
THE SECRETARY OF STATE to THE OFFICER ADMINISTERING
THE GOVERNMENT.
(Sent 8
p.m., 31st March, 1930.)
TELEGRAM.
[Answered by No. 11.]
YOUR telegram of the 26th of March.* Object of the scheme is to secure cultivation which would not take place unless a portion of the necessary advance is guaranteed by the Government. Do not therefore fully understand why you propose to apply it to advances already made. Do you mean advances already granted but of which small portion only has actually been drawn? If advance already granted what risk is there of remaining portion not being lent without Government guarantee? -PASSFIELD.
A
L
9
and appliances, including mechanical transport, implemental tillage, and the like for the improvement of factories and estates, the loans to be secured on the crops or in any other manner deemed acceptable.
3.
He suggests the allocation of a sum in the neighbourhood of £200,000 (two hundred thousand pounds) for this purpose.
The actual amounts to be repaid by any one borrower in any one year would be relatively small.
4. I attach the extracts from Sir Francis Watts' Report referred to in my telegram of 4th March. These would appear to furnish sufficient arguments for the loans suggested.
5. The loans would probably be taken up in amounts varying from £1,000 to £10,000 (one thousand to ten thousand pounds), and careful scrutiny on the part of Government before granting the loans should go far to ensure they are only made for purposes which promise to be productive and remunerative.
6, Whilst enhancing the economy of production and earning capacity of the properties to which they are applied, they would largely be used for the purpose of acquiring machinery and appliances from the United Kingdom, and, at a rough estimate, it may be assumed that about seventy per cent., of the sums advanced would be expended in this manner. Measures could, and would be taken to ensure the use of British machinery and appliances.
7. Sir Francis Watts further suggests that the loans made should bear no interest for the first two years, and that, subsequently, they should be subject to such annuities as will ensure their redemption within twenty years.
8. He does not feel that he is in a position to suggest the rates for these annuities, and he suggests that the experience now gained in connexion with the operation of the Colonial Development Act may have furnished information which can readily be applied to this particular case.
9. In accordance with the instructions furnished in respect of applications for assistance from the Colonial Development Fund, I attach twelve copies of the extracts referred to from Sir Francis Watts' Report, and of the information required by the Advisory Committee.
I have, &c.,
ALLAN GRANŅUM, Officer Administering the Government.
18
C. 74567/30 [No. 5].
No 11.
THE OFFICER ADMINISTERING THE GOVERNMENT to THE SECRETARY
OF STATE.
(Received 3.10 p.m., 4th April, 1930.)
TELEGRAM.
[Answered by No. 13.]
4TH APRIL. No. 3. Your telegram 31st March. The methods of making advances in Mauritius are fully set out in paragraphs 66-59 of the Royal Commission Report, 1909, quoted in paragraph 11 of Annexure I to Watts' Report.
Owing to the low price obtained for last season's crop it has not been possible strictly to follow these methods this year and advances restricted to actual require- ments have had to be obtained.
These advances have been expended and possibility of further similar advances being withheld unless previous advances are also given the benefit of the scheme cannot be ignored.
If the scheme is not to include advances already made it will only extend to something less than one-half of the whole amount required to produce crop.
It is felt that advantage might follow if the scheme could apply to advances already made.
C. 74550/30 [No. 9].
No. 12.
THE OFFICER ADMINISTERING THE GOVERNMENT to THE SECRETARY
(Confidential.)
MY LORD,
OF STATE.
(Received 14th April, 1930.)
[Answered by No. 44.]
Government House,
Port Louis, 10th March, 1930.
In continuation of my telegram of the 4th March, 1930, having reference to the Colonial Development Fund, I have the honour to inform you that I have con- sulted Sir Francis Watts on the subject.
2. He suggests that the most useful purpose would be served were a Fund to be created from which the Proprietors of (Sugar) Factories and Estates might, during the next two or three years, borrow sums of money for the provisions of machinery
C. 74550/30 [No. 4]: not printed.
* No. 9.
† 'No. 10.
Enclosure 2 in No. 12.
QUESTIONS AND ANSWERS THERETO IN CONNEXION WITH THE ADVISORY COMMITTEE
OF THE COLONIAL DEVELOPMENT FUND'S CONSIDERATION OF APPLICATION.
Question.
A. Description of Scheme.
Objects and Advantages.
B. Estimated Total Cost.
C. Earliest estimated date of commence-
ment.
Answer.
A. Placing at the disposal of the Govern- ment of the Colony of Mauritius a sum of about £200,000 for the purpose of making loans to Proprietors of (Sugar) Factories and Estates for the improve- ment of the machinery of the factories and estates, including mechanical trans- port, implemental tillage, and the like. The present depressed condition of the sugar industry has for some time restricted the proper expenditure on maintenance and improvements of the equipment of sugar factories and estates, and it is. felt that money ex- pended in this direction would be renumerative if it could be obtained on easy terms. B. £200,000
pounds.
two hundred thousand
C. Can be put in operation immediately.
* Not reprinted here.
J