CO129-525-3 Estimates 1931 and other financial papers 16-1-1930 - 1-9-1932 — Page 8

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I am very doubtful gamvery

about this. q46.

estimates until the arrival of the Appropriation

Ordinance, but they can be examined now in advance.

There is little to add to the Colonial Secretary's

comments and the explanatory notes in the printed

Estimates. The fall in exchange has thrown a heavy

burden on the Colony's finances and it is clear that

the new estimates must have been pruned with considerable care. In spite of the small figure

to which the Surplus Balance has been reduced, the Treasurer was justified, in the special circumstances, in again budgeting for a deficit. If there is no further fall in the dollar exchange it is quite probable that the deficit will be reduced to much

smaller proportions.

A small point to which exception might

be taken is the reduction in the subsidies to

Elementary Vernacular Schools. In hard times it may be necessary to check drising expenditure on education; but it seems undesirable to go back on

standards already attained.

? await further despatch.

(7) There seems to be no great objection to

this proposal, If the Government employed outside

contractors to carry out the loan works the wages

paid by the contractors would be included in the

costs to be defrayed from loan funds.

? Approve charge upon Loan Funds (subject

of the general francifle

to G.D. observations, in view

involved

1.M. Martin 6.11.30

P.TO.