CO129-623-9 Estimates of Expenditure- includes a report for the year ending March 1952 1-2-1951 - 30-11-1951 — Page 39

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position cannot be regarded as unsatisfactory. The tempo of disbursements will seasonally increase greatly during the next six months, but if the flow of revenue maintains its present volume, it is possible that the estimated surplus of about $13,000,000 might be reached even after meeting the extraordinary expenditure of $25,000,000 required to reduce the advance account for loan expenditure.

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