CO129-244 - Governor Des Voeus Acting Governor Fleming - 1890 [1-4] — Page 26

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in accordance with Your Lordship's instructions in your despatch No. 165 of the 27th of August, 1887, I have to draw your attention to the fact that the aggregate amount exceeds the authorized limit of $200,000.

Enclosure 2. 9th December 1887

I enclose a copy of a letter which I have caused to be addressed to the Marine lot-holders, pointing out to them that if the Colonial Government is to be regarded as liable for the safe custody of the sums contributed by them, amounting to Three hundred and twenty-one thousand six hundred and sixty-five dollars and twenty-one cents ($321,665.21); and at the same time to explain that the excess is due to the payments made in advance by the Marine lot-holders on account of the Reclamation Works to be carried out on their behalf.

I have also pointed out to them that the payments made by them in advance are likely to result in a continuous excess in Treasury balances, which must be invested in England. I have added that, if they wish to avoid the risk of loss on exchange in the event of a rise in the value of silver, they may consider having the sums invested in England for the sake of higher interest.

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in accordance with Your Lordship's instructions in your despatch No. 165 of the 27th of August, 1887, I have to draw your attention to the fact that the aggregate amount exceeds the authorized limit of $200,000. Enclosure 2. 9th December 1887 I enclose a copy of a letter which I have caused to be addressed to the Marine lot-holders, pointing out to them that if the Colonial Government is to be regarded as liable for the safe custody of the sums contributed by them, amounting to Three hundred and twenty-one thousand six hundred and sixty-five dollars and twenty-one cents ($321,665.21); and at the same time to explain that the excess is due to the payments made in advance by the Marine lot-holders on account of the Reclamation Works to be carried out on their behalf. I have also pointed out to them that the payments made by them in advance are likely to result in a continuous excess in Treasury balances, which must be invested in England. I have added that, if they wish to avoid the risk of loss on exchange in the event of a rise in the value of silver, they may consider having the sums invested in England for the sake of higher interest.
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2. on accordance with Your fordship's instructions in your despatch • 8° 165 of the 27th of August, 1887, have to draw your attention to the foot that the aggregate amount exceeds the authorized limit of $200,000, میلا 189. Enclosure 2. 9th Decemberfoy I 197459 Winte 3 25 I enclose a copy of a letter which I have caused to be addressed to - the Marine fotholders pointing out to them that if the Colonial Government is to be regarded no liable for the safe custody the sums contributed of the by Three hundred and liventy one $321,665.2 thousand six hundred and sixty five dollars and -ninety one cents; and at the same time to explain that the excess is due to the payments in on advance. by the Marine fotholders account of the Reclamation Works to be carried out on their behalf. 3. I greater point of which are by them, the · payments, their advance likely to be continuously the of such excess in Treasury balances, must be invested in England. I have added that, if they devise for the sake of higher interest and to avoid the risk. of loss 022 exchange in the event of a rise in the value of silver, to have of the
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2.

on

accordance with Your

fordship's instructions in your despatch

• 8° 165 of the 27th of August, 1887,

have to draw

your attention to the

foot that the aggregate amount

exceeds the authorized limit of $200,000,

میلا

189.

Enclosure 2. 9th Decemberfoy

I

197459

Winte

3

25

I enclose a copy of a letter

which I have caused to be addressed to

- the Marine fotholders pointing out to them that if the Colonial Government is to be

regarded no liable for the safe custody

the sums contributed

of the

by

Three hundred and

liventy

one $321,665.2

thousand six hundred and sixty

five

dollars and

-ninety

one cents; and

at the same time to explain that the

excess is due to the

payments

in

on

advance. by the Marine fotholders account of the Reclamation Works to be carried out on their behalf.

3. I

greater point of

which

are

by

them, the

· payments,

their advance

likely to be continuously the

of such excess in Treasury balances,

must be invested in England. I have added that, if they

devise for

the sake

of higher interest and to avoid the

risk.

of loss

022

exchange in the event

of

a rise in the value of silver, to have

of

the

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