CO129-256 - Governor Sir Robinson - 1892 [8-12] — Page 130

8.

that the contribution to

your Lordships despatch, the sinking fund should commence three years from the date

which the interest on the Loan

begins to accrue. Spropose therefore,

your Lordships

with

sanction to insert in the draft

estimates for 1893

a

sum suf-

ficient to meet the interest that

will have to be paid in that

year

incident

and the charges ince

the

to raising, Loan, but to make no present provision for sink- ing fund . For this purpose I estimate $40,000 to be ample

as even if the Crown Agents

wish to take advantage of a favourable market and

may

127 9

raise the loan.

early in the

year

not more than 6 months interest

will become payable within

the

year.

The mccreased demand

which has recently arisen for

our subsidiary ce

coins and which

is due to caused that promise.

to continue for some time, in

conjunction with a sle

slightly improved prospect under some other heads of receipt,

and some

small reductions of estimated

items of expenditure, will en-

able

me to provide the account

of $40,000 with sa

saftyy.

Ishould be glad to know

-7.

if

the wording of the

declaration

e. g:

"Now therefore d.

raise

declare

器