CO129-561-10 Estimates 1938 2-9-1937 - 23-9-1938 — Page 344

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411

It has the additional advantage that, if the Colony should be fortunate enough to experience a period of

prosperity or for any other reason enjoy a substantial

increase of revenue, it will still remain possible to

charge the expenditure to revenue.

8.

A formal Resolution authorizing the expenditure

to be incurred up to the end of 1938 will, unless I

have your telegraphic instructions to the contrary, be

introduced in Legislative Council in connection with the

Estimates. It is not at present proposed to charge any

but waterworks expenditure to loan but consideration

will when the time comes be given to the desirability

of financing in this way any other remunerative

expenditure on a large scale which may be decided upon.

9. The proposals outlined above will of course

be submitted to the Council with an intimation that they

are subject to your approval but I have thought it

proper to give you this advance intimation of what I

have in mind.

I have the honour to be,

Sir,

Your most obedient, humble servant,

1.2 Smit

Officer Administering the Government.