12
attention of my Directors has been called, and they take the liberty of conveying to His Excellency the Governor their views on this important question.
My Directors have the honour to express their entire concurrence with the measure, which, under the present difficult circumstances, appeals to them as being of a very urgent nature.
The position of the sugar industry is at present a very hard one, and, as His Excellency very properly stated yesterday, affects the whole Colony.
It has again passed this year through most trying ordeals, namely:-
10. A most serious deficiency in the returns of the crop.
20. A prolonged drought.
30. A continuation of last year's low prices of sugar.
As a contrast: 40. High prices for rice, grain, and food-stuffs.
-
The bank has this year, as it always has done, assisted the sugar industry for the period April to September, planters" bills have been regularly discounted for the purpose of enabling them to meet their working expenses until the harvesting of their crop, and after September loans on dock warrants of sugar are made with a view of furnishing the means to planters of meeting their engagements.
Besides these operations, the bank has to meet the numerous calls of the commercial community and its resources are thus employed for the benefit of the Colony in general.
In submitting, for the consideration of His Excellency the Governor, this expression of opinion on the present state of affairs in this Colony, my Board desire me to convey their very high appreciation of the declaration made yesterday by His Excellency the Governor, that the resolution voted by the Council would receive his best support, and that His Excellency would do all in his power to enlist the active sympathy of the Secretary of State on behalf of the Colony.
13
Enclosure 5 in No. 15.-
PRESIDENT, Chamber of Commerce, to COLONIAL SECRETARY.
8th November, 1907.
SIR,
I HAVE the honour to state that being desirous of associating themselves with the recent motion in the Council of Government to obtain for the sugar industry financial assistance in the critical circumstances arising out of the bad results of the present season, the Chamber at a full meeting held to-day adopted unanimously the following resolution:—
Ex
This Chamber approves of the resolution moved in the Council of Government by the Honourable Gaston Antelme and adopted by all the unofficial members of Council with respect to a loan to be raised for assisting owners of sugar estates and "bailleurs de fonds," and considers that under existing circumstances it is urgent in the interests of commerce that an effective assistance should be given to them, in view of the shortness of the present crop and the low range of prices now ruling.
"The Chamber is of opinion that unless some such relief be granted, commerce may be seriously affected through the difficulties which may ensue through want of means at the disposal of planters to pay current expenses and obtain the necessary funds to provide for the requirements of next season. "On the other hand, the Chamber considers that the temporary relief asked for would remove the uneasiness at present felt, and enable merchants and suppliers to continue their business with estate owners with the same confidence as hitherto."
I am desired to request that you will lay same before His Excellency the Governor as an expression of the views of the Chamber on this subject which they hope may be taken into favourable consideration.
-
I have, &c.,
J. MÉE GOUPILLE,
Secretary.
43862
I have, &c.,
R. R. GRAHAM,
President.
SIR,
Enclosure 4 in No. 15.
PRESIDENT, Chamber of Agriculture, to COLONIAL SECRETARY.
8 November, 1907.
I HAVE the honour to enclose herewith copy of a resolution which has been carried unanimously by the Chamber of Agriculture at a special meeting held this day, and to request you will kindly transmit the aforesaid to His Excellency the Governor for his consideration.
I have, &c.,
J. CARCENAC,
President.
CHAMBRE D'AGRICULTURE.
Résolution votée à l'unanimité à la séance du 8 Novembre, 1907.
✩
La Chambre, considérant que la Colonie va se trouver, à très bref délai, en présence de grandes difficultés financières, par suite de la réduction considérable de la coupe, des bas prix des sucres et de la cherté des grains;
Que ces difficultés pourraient gravement compromettre la coupe de l'année prochaine en ne permettant pas le développement normal des façons culturales de la canne, et aussi provoquer dans le commerce une crise dont les Revenus Généraux se ressentiraient profondément;
Est d'opinion qu'une assistance de l'Etat à l'agriculture est indispensable et, en attendant que le Marché Financier permette de trouver les fonds nécessaires à l'amélioration de l'outillage des usines, Elle donne son plus chaleureux appui à la demande de £200,000 votée le 5 Novembre courant par le Conseil du Gouvernement.
(Secret.) MY LORD,
1907 31 Oct., 1907.
No. 16.
THE GOVERNOR to THE SECRETARY OF STATE. (Received 16 December, 1907.) [Answered by Nos. 20 and 23.]
Government House, Le Réduit, 12 November, 1907. FOLLOWING on the receipt of your telegram of the 28th of October* on the subject of Mr. Leclézio's scheme for a loan to Governor to Secretary of State, 30 Oct., assist in the improvement of sugar factories, Secretary of State to Governor, 2 Nov., the telegraphic communicationst as noted in 1907 (1); 2 Nov., 1907 (2).
the margin have passed between your Lordship Governor to Secretary of State, 3 Nov., and myself, and I have had the honour of 1907: 4 Nov., 1907; 9 Nov., 1907 (1): 9 addressing you in my despatch, No. 400, of to- Nov., 1907 (2).
day's date, on the subject of Mr. G. Antelme's motion in favour of raising an immediate loan of £200,000 for the purpose of making advances to sugar planters to enable them to carry on the cultivation and work of their estates.
2 Mr. Leclézio has postponed his motion until the 3rd of December, and it remains to be seen what action he will then take, and, if he develops his proposal in the Council, what the result will be as far as the unofficial section of the Council is concerned.
3. I have already reported the action taken on the receipt of your telegram first quoted, and under cover of my numbered despatch mentioned above I have transmitted an extract from the debates in Council containing the observations which I made on the 5th current on the subject. For convenience of reference a further copy of the extract is enclosed herein.
• No. 2.
† No. 8 to 9.
‡ No. 15.
PUBLIC
RECORD OFFICE
mmill
Reference :--
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH—NOT TO
9PUBLIC RECORD OFFICE, LONDON
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