, 1874-11-18

amount in itself represents such a proportion of
the joint value of the sugar-estates, as may be
considered sufficient to serve as basis for a
Credit Association.
The GoUernor said he had not much to add
to what is already stated in the Motives to this
Draft. The matter had also been explained
on other occasions, and he would therefore now
wait to see if any Member should wish any elu-
citations, before he entered into details. The
different heads Of the Draft are 10 correspon-
dence with similar laws in Denmark for Credit
Associations. And he would here confne him
self to state, that at the present moment the
Draft, if adopted, will not lead to any immedi-
ate practical result, on account of the limited
amount which as yethas been signed by owners
of Estates here as being willing to enter a Credit
Association. The appraisement of Estates here
that could enter such an Association he had on
a former occasion submitted at a meeting of
planters at Estate Castle B0urke, and there
bv shown that a total ofupWards of 5000, 600
could be made available; but up to the present
moment there had only been signed for Estates
to an amount Of about 100000 available for
mortgages. The reason why a larger sum has
not been signed is that the Attornies of Absen-
tees, who represent a considerable amount Of
property here, have not as yet been able to OBJ
tain the necessary consent to the mOrtgaging,
as several of the Absentees are residing in diff
ferent and rem0te parts of the world but ac-
cording to the latest intelligences it was be-
lieved that the consent might be obtained.
However, as this matter is connected with the
establishment Of Central Factories in the Island,
it is necessary to come to a conclusion soon,
so as to be able to decide whether such Facto-
ries can be established on this plan, or not;
therefore it would be beneficial to have this
Draft terminated and the matter in due form
as soon as possible, in order that those parties
who are to take the matter in hand, could COM
mence when the consent Of the absentees
comes in, and the operations be started.
His Excellency would recommend that the
Draft, if the proposals do not meet objections,
be furthered so, that he may be able to give
Information to the Home Government by tie
next Mail, whether the proposals arc adopted,
OF not.
Let Member for Frederiksted (Sarauw) AS
It appeared that no one had any remarks to
make on the reality of the matter, he would
merely beg to direct the attention of His Ex-
oellency and the Council to the translation Of
this Draft, which in some places appeared to
to be incorrect or at all events not good
English. And in regard to the Danish text, he
had noticed that different terms are used for
the same thing in this Draft and 10 the follow
ing Uu0 Uu GLl0 OlNCL VI Il 10y OOhONAHAHS
Central Factories for instance in the present
Draft the terms ~"forsdellige Begunstigelser"
is used in the other Draft " efternevnte Be-
gunstigelser og Friheder; y still the English
translation of this present Draft has it divers
facilities and immunities."
The Governor said that as far as concerns
the English translation, any inoorreotness
could be reoti6ed at the 3rd discussion and as
regards the words mentioned by the honorable
Member in the Danish text, the terms "Begun-
stigelser' and "Friheder' appeared to him to
be synonymes at all events the same thing is
meant in both Drafts.
The Chairman observed that the Draft con.
oerning Central Factories besides the other
immunities also gave exemption from duty
LToIdfrihed]
AS no one else desired the word, lst discus
sion was closed and the Draft passed to End
discussion.
9, 1st Discussion on Draft of Ordinance by
which the Government of the Danish West
India Islands is empowered to grant divers
immunities to q Joint Stock Company for
the, Establishment Of Central Factories in
st. Croix for the manufacture of Cane Su-
sd gar.
The Draft with Remarks reads as follows
10 r. ~ # II
AN ODOTN MOE nv WHICH THE Gov