CO129-129 - Sir MacDonnell - 1868 [1-3] — Page 196

15. The Council however will now perceive how difficult it is to estimate the The experiment may probable amount of Revenue accruing from such a source. fail either through the non-attainment of the result sought or through yet greater mischiefs arising, than those which we hope to suppress. It is moreover not easy to say what amount exacted as caution money and fees would obtain for us the greatest assistance from the Chinese. We can perceive on the one hand that it should not be too little, so to produce the inertness and carelessness, which arises from a monopoly that gains everything and risks nothing, and on the other hand that it should not be so excessive as to render the Licensees finally reckless because hopeless. There exists no doubt between the two extremes a sufficient sum for the purpose,

if we only knew it, but till the experiment be tried I cannot undertake to fix even approximately its amount. I have had nothing to guide me but the offers made, and I confess these appear framed on expectations unduly extravagant.

16. On the whole I have not thought is right to count on more than $100,000 as derivable from this new and precarious source of Revenue during 1868, especially as it is one which the Members of the Executive would be glad to get rid of, pro- vided the course of events develops other means to effect the objects of Government.

17. On the other hand I am prepared to find that the Revenue from Licenses may greatly exceed $100,000, whilst it is also possible that you may gain the difference between your Expenditure $60,000 and the amount $40,000 put down as expected profits from the Mint if the latter be no longer continued at the expense of this Colony. It is likewise a possible contingency, though I have no authority direct or indirect for expecting it, that the whole debt accruing unavoidably from the Colony on account of the Military Contribution may not be exacted.

18. The Council will thus more fully understand the allusion I have made to the "unusual and perplexing circumstances" under which I have called on you to vote the supplies detailed in the Draught Appropriation Bill on the table. In fact your Revenue may vary almost Million of Dollars on one side or the other, and if the variation be in your favor it may even be desirable to consider, whether the circumstances of the Colony would in that case call for the imposition of the Stamp dutics.

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