CO129-313 - Governor Sir Blake - 1902 [10-12] — Page 97

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for 1902 by $950,624.80. A reference to the Abstract referred

to above shows clearly how this large excess of Estimated

Expenditure is made up.

It has been swelled by the item for Ex-

change Compensation which is itself enhanced by the grant of

Exchange Compensation on the whole instead of half the salaries

of the Officers entitled to it, by the fall in Exchange, and

by the fact that the Exchange Compensation due to each Officer

is provided in these Estimates whereas in previous Estimates

only so much as was considered sufficient to cover the Ex-

change Compensation actually draw was estimated for, the loss

in Exchange on salaries paid to Officers on leave in Gold-using

Countries being charged to Loss in Exchange when the accounts

for each year were closed.

You will also observe that the Estimated

Ordinary Expenditure for 1903 exceeds the Estimated Ordinary

Expenditure by $131,206.00 and that the Estimated Expenditure

on Public Works Extraordinary exceeds the Estimated Receipts

from Land Sales by $581,100 making a total Estimated Deficit

of $712,306.00.

I am addressing you in a separate Despatch

on the subject of how this Deficit is to be met.

3.

Finally, I would invite your attention to

the fact that the Estimated Balance (shewn in the printed

Enclosure No. 7 ) of $149,319.54 is likely to be exceeded by

between $50,000 to $100,000 due partly to the fact that some

of the measures taken to increase taxation will come inte

operation before the end of the year.

4.

I enclose plans for items Nos. 7, 8, 10,

closure 8.

Haus Nos. 1

to Lop

Sent by

Post)

and

IN