charged to that fund, and special expenditure again becoming necessary thereafter, for strengthening the police force, &c., and in view of the possibility of further clamour arising. I wish the fund to be preserved intact for the repression of occasional emergencies.
I think it important that the fund should not be accumulated without the sanction of H.E. the Government, and that it should be more strictly applicable.
The necessary provision for education should, as in other Colonies, be defrayed from ordinary Revenue, and I shall gladly consider any scheme for the Collegiate School, to which it stands appropriated.
I hope that on further enquiry it will be found that while the bulk of the Gambling Fund is invested at 5%, a sum of $40,000 is placed with the Mercantile Bank at 4%. I am disposed to think that in all the circumstances of the case a moderate rate of interest, and perhaps the rate of 5% in the Chartered Mercantile Bank, might be obtained for the $40,000 deposit, subject to two days' demand, and with some good reason might be withdrawn because that Bank may be unacquainted with the fact that a return for a longer specified time would account for a higher interest.
I perceive that in the development of school accommodation, care should be taken to utilise the different buildings contemplated. As stated in Mr. MacDonnell's despatch, the whole amount is to be applied.
GR11003/72
144
charged to that fund, and
special expenditure again becoming
necessary bereafter, for strength.
to the possibility of further
clamint on it wising. I with aming the police force, & otherin
the fund to be preserved to hat "afe for the repression of occail.
Emergencies
I think it important that the which it wod money nor accumulated that
be in the opinion of H. Rud.
Government more strictly afflicable.
The necessary provision for education shoud in
us in other Colonies be
deprayed from ordinary "Revenue, and I shall gladin
consider
any
flom for the
not be diverted from those
sedi, to wheel
which wani Singh. M.
the Colleg
Jy
boing the 23t och lost be
informed
be applied
tist it stendo
I hope that on fertlern requiry foo
Boherbert.
is on
Answḍ
102
11003/72
144
that while the bulk
of the fambling dand
inverted at 5%
a
sum of $40,000 is placed
with the Mental Bank
at 4%. I am despored to think that in all the cime of the
The case
a moderate t
5% in
rate of
of interest, and
Perbate the store that mlp there is
$40,000
deposit but suljat
tro day's demand &
some good
reason witte
unacquaintin care should be token' btcause that, return
the wit may hepland, which dam for a longer sparnos time, If to this would account
in the interest
development of schol accommodatin mag be alle utalisz gewolf bad for the differen
to satisfy yourself
the Education of the Chinese ma
well provided for with act to
which
mary
be consistent with
be
the revenes of the Colony.
Caye
Expedition
publi
Iperccine that in in
building
bin R. Mr. God
Contemplated.
stated in fir 19:
rate of
Am
Rem
for the whole amount, Ite
x
Mac Donnell's deepatch
Megny of the sth gf pil
of
that
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