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sterling paid servants will receive more favourable treatment than was contemplated. It will be noted that I accepted the Honourable Mr. Lauder's suggestion subject to Your Lordship's approval and I should be glad to receive your decision in the matter by telegraph. This proposal, which if approved should come into effect on January 1st next, will effect a saving on the estimates of $388,888, thus reducing the anticipated deficit to a little over $1,900,000. The anticipated economies which will be recommended by the Retrenchment Commission will, I hope, result in a further material reduction. I may say that the figures of revenue and expenditure received since the Colonial Treasurer drew up his memorandum indicate that the balance of assets at the end of the year will probably exceed $6,500,000.
10.
I trust that Your Lordship will agree that every effort has been made to reduce the deficit to as low a figure as is reasonably safe, and that the estimates, subject to the above modification, will receive Your Lordship's approval.
11.
As shown in my speech it will be necessary
to raise a loan, probably about the middle of 1931, to provide funds for certain important works and I will address Your Lordship in due course in the matter.
12.
A copy of this despatch is being sent via
Siberia.
I have the honour to be,
My Lord,
Your Lordship's most obedient,
humble servant,
Where
Governor, &c.
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