CO129-349 - Governor Sir Lugard - 1908 [10-12] — Page 102

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for general purposes in the form of increased licences and

fees &c., it is anticipated that in the coming year the

gross Expenditure (in which only essential and continuing

Public Works have been included) would exceed the gross

Revenue by a sum of over $480,000 were it not for the

fortuitous asset of $412,300 from the Widows' and Orphans'

Pension Fund which has been taken over by Government and

which should in fact be regarded as equivalent to a Loan

since the Pensions which are in part to be defrayed from

the interest which should accrue from it will in future

years be chargeable to Revenue. These figures include no

provision for compensation to the Opium Farmer or Divan-

-keepers for closing Divans, for which without special

taxation I am wholly unable to provide, and looking to the

fact that the Colony has not yet emerged from the period of

extreme trade depression which has borne so heavily upon it

for the last year or two, and that heavy private losses

have been incurred by the recent disastrous typhoon before

the damage done by that of 1906 had been fully repaired, I

feel that the moment is inopportune

with a deficit of

nearly half a million dollars this year and next - for

imposing new taxation to meet a new charge additional to

that deficit.

10.