CO129-167 - Sir Kennedy - 1874 [1-8] — Page 129

were.

On 3079 they authorized to comply ith a requisition for a grd light, but- the expenditure involved does not appear.

In this despatch the votes for the hecessary buildings ansount to $17,500; it

does not appear whether this will complate the outlay, but it will make the totel

amount Lanclined up to the preshit underr £5000.

Sir Kennedy

He does not in this despatch stak

how he proposes to provide this $17,500,

Suppore it is the

it is the under the

but I Suppers

4th & 5th clauses of the Ordinances in 1472

Gov

which give the power to cidvance from any

monies in the "Treasury. Such sums as mag

be

Recessary for the fourpose, these advance

bbe

Lay

repaid out of a loan to be raised with the assec of the Comucil on the security of the General Revenus,

I am inclined to think that, as

this whole expenditure has will not involve

A

large amount & as the ontlay on the new Hospital

tal 4th Waterworks has not yet commenced, there will be found to be ample available funds in the Treasury to pronde for the Lighthouse cape-diture with onl

so far as that expenditure is cons

but at any Loan;

125

having

recourse to

all events it is the most-conomic

pkan fort present to advance the

recessary funds out of the large balances bearing a low rate of interect at the banks.

to borrowing at 5%

But I do not think this need interfere with the prosectal to inpore lifal duer to recoup the expenditure - There will pouille bea

this as unnecessary,

but-

cry against Ibelieve the shipping interest tobe very

lightly thack al present, that this outlay is

incurred entirely for their benefit, #that What would be a

light burden on

would be a welcome

them

welcome addition to the Colonial Revenues, which are constantly said to be deficient when other intercats are concorred though at the farecent minute the condition of affain is proherons..

Iwould suffect

that in answer to

the despatch Lord Camarin. Should give this formal sanction to the votes, approve of the monies being advanced temporarily from the Treasury tadd-that-a. soon as this outlay the lighthouses is complete inchoats, would be glad bleam how the loen Gost Berpose tom the form anent prontion for the

of

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