The fixed contribution of the Colony is lowered from £250 to £200. On the other hand the Colony will have to pay one per cent on all stores ordered through the Crown Agents. We at present pay one per cent on stationery, but apparently on nothing else. This charge for Commission will not amount to more than about £150 a year.
Under this head the Colony neither gains nor loses by the new arrangement.
With regard to the Charges on Loan business, however, I trust it is not intended to make these retrospective. The Hongkong loan having been voted on a certain definite understanding as to terms; having been voted by the non-official members of the Legislative Council, who considered that the loan should be raised here, it will be necessary, I submit, that those terms should be adhered to.
It will be in your recollection that at the last meeting of the Finance Committee at which the subject of the loan was discussed, the non-official Members yielded the point as to a local issue only on the condition that the loan was to be raised on the very terms laid down in the Secretary of State's despatch No. 21 of February 2. "Not a farthing more" — "you may remember, was the expression of one of the Members, and this represented the opinion of them all.
Under these circumstances I do not see how the loan already arranged for can be brought under the new rules, which involve 4 per cent additional on the loan, and 4 per cent additional on the interest.
I have to ...(illegible)...
(signed) W. H. Lister, Treasurer.
The
-fixed contribution of the Colony is lowered from £250. to £200. On the other hand the Colony will have to pay one per cent on all stores to ordered through the Crown Agents. We at present pay a per cent on stationery, but apparently on nothing else. This charge for Commission will not amount to _
more Man about £150
a a year.
Tinder
this head the Colony neither gains nor
by the
considerable sun
loses any new arrangement.
With regard to the Charges
on Loan business, however, I trust it is not intended to make these
retrospective. The Honghong loan having been voted on a certain definite
understanding been, I
voted by
of
as to terms; having
may say
the
non-
anost unwillingly
official members
the Legislative Council, who
considered that the loan should be
raised here, it will be necessary,
submit
574
submit, that those terms should be
adhered to.
It will be in your recollection that at the last meeting of the Finance Committee at which the subject of the loan was discussed, the non- official Members yielded the point as to a local issue only on the condition that the loan was to be raised on the very terms laid down in the decretary of State's despatch No 21 of February. 2: Not
کوگو
A
farthing
#
more" "you may
you may remember,
was the expression of one of the
Members, and this
represented the
opinion of them all.
"Under these circumstanced I do not see how the loan already
arranged for can be brought under the new rules, which involve 4 per cent additional on the loan, and 4 per cent additional on the interest.
I have to
(signed) et. Lister,
Treasurer.
No comments yet.
Private notes are available after approval.