CO129-431 - Governor Sir May - 1916 [1-2] — Page 256

20

..

0.

Knit Ai

J

ad

น

1 | 4.

I

LA

Is

Je

* LOA

**

.0

ه في

-

ר

"

LA DO NO

i

2

...a Log

..[

*La

0. :

:

Jion

.

i IL

.i

Quen

254

"

overdraft was ♬ 2397,69*.

but this was reduced to $915,007 an

the 17th. January through the Crown Agents having allowed the Government to draw on them to the extent of £90,000. Even if it were practicable to float a loan at the present time it would hardly be possible to do so at par at less than five per centum,

the whereas Bank only charges 44 per centum on the overdraft,

11.

12.

I shall await your Despatch concerning the redemption of subsidiary coin before addressing you on that vexed subject. In the meantime your instructions to stop remittances te England for demonetization are being observed in accordance with your telegram of the 24th. December,

In conclusion I would remark that I am very anxious to submit to you proposals for special taxation from which to furnish a special contribution from this Colony to Imperial War Expenditure, and I hope to address you shortly on the subject.

* 4",

1.

I have the honour to be,

Bir,

Your most obedient,

humble servant,

Amaz

Governor,&C..