CO129-561-10 Estimates 1938 2-9-1937 - 23-9-1938 — Page 336

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4. 03

and go some way to meet the excess on the Gorge Dam. The

balance of that excess, $136,000, can be found by transfer

from the funds intended for the Central Market, which will

thus be reduced to $689,000. This exhausts the funds

available under the 1934 Loan.

A further $211,000 will, however, be needed to

complete the Central Market and it is roposed to include

this in the schedule of works to be met from a future loan

which I will explain further in a moment. Should savings

after all be made on the present estimates for the Gorge Dam or other still uncompleted works in the 1934 Loan

Schedule, they can of course be made available for the

Central Market.

Before leaving the 1934 Loan I would draw attention

to the fact that less than the original estimate is expected

to be spent this year under Airport Wireless Telegraph Station, Head 6(c) because the cost of a new building

originally intended to be met from this source will be met

from Public Works Extraordinary. The loan funds so saved

will be available in 1938 for the purchase of transmitter

apparatus for the Airport.

There remain the works to be met from a future

loan. The most important of these are the further water-

works already approved in rinciple by Council. They are estimated to cost $3,185,000. I do not think I need argue

at length as to the justification of charging these

essentially revenue-producing; works to loan. It is always

better to meet any expenditure out of revenue if it can be

done but if the revenue is not there it is entirely proper

to meet this kind of expenditure out of loan. The procedure it is proposed to adopt, following previous practice, does

in fact leave it still open to us to pay for these works