, 1874-11-21
r E r X S


1t has been ascertained that the power con-
ferred on Government by the Ordinance of
goth May a. C . authorizing the said authority
to contract, in behalf of the Colonial Treasury
of St, CrOix, for a loan of $50, 900, in order
to acquire thus the means Of accommodating
the planters with Bureau Advances and, even
tuaIly, defraying of the common expenses
of The Admins II ton, has proved insufficient
for the attainment of the desired purpose.
The reason must be looked for partly in the
circumstance that the Presidency has been
obliged to grant Bureau Advances much more
extensively than could be couLted on original
ly, aud, partly, in the fact that the collections
Of the common revenues have brought con-
siderably less than the amounts calculated.
The consequence is, that the loan of $3.50, 900
which, by the readiness evinced by the
Ministry of Finances, has been accorded to the
municipality out of the State Treasury-will
hardly be sufficient FIR defraying the ordinary
and extraordinary expenses Bureau advances)
of the Colonial Treasury, in their present
extent, beyond, say medeo January 1873. But
at that time it will be impossible to obtain any
repayment on the advances granted, and
hence, if Government be not put in the way of
contracting an additional loan, the Executive
will, in order to avoid the risk of being in want
of funds for carrying on the Administration,
be obliged now to stop the Bureau advances.
Such a measure might, however, easily be the
cause of producing the great lOsses-to the
public as We'll as to the private parties
which, IN the interest of the community, it
has been the Intention to ward off and hence
Government has considered it a duty to sub
nit the present draft of Ordinance, in order
to acquire the means for defraying all occur
ring expenses, as promised in the Ordinance
OF goth May, until, say 1st April 1875, or till
the time when, in consequence of the com
mencement of the crop and tie sale of the
produce, it may be hoped that the normal con-
ditl0n has been restored.
The Governor in introducing this Draft
would take the opportunity to communicate
that the Minister Of finances has consented to
give a loan, from tho finances Of the State, Of
$4,000 to the Colonial Trea ury, to lie
repaid IL the course of / year, on 4 p. CT. in
terest. The proposal now before the Council
originates from the fact, that if the ordinary
, revenues do not come in regularly and suti-
ciently, there will be a want of funds to meet
the requirements. Up to the present moment
those revenues have not come in regularly or
with the expected sum and there is a possibili-
ty of the crop being later than expected, conse-
quently the bureau loans would not be repaid till
later, therefore it will be necessary to be pre-
pared to have $4,000 besides the first $3.50. 900.
In order to be able to lay a new proposal before
the Home Government, it was necessary to have
the legal sanction to the loan.
2nd Member for Christiansted (Hanson) left
the Assembly.
1st Member for F~rederiksted { SarauO) said
he had thought that the LIST discussion on this
Draft had purposely been omitted on the Order
of the Day, therefore he was not exactly pre-
pared to take part in the discussions. He would
only beg to say, that when the Draft for
$4,000 was introduced III the Council, His