, 1874-11-21

RAONANS IVA S~oOv
could be more equal and more TO be relied
on. The Governor has reason to hope, that
Mr.. Tietgen will approve of this. And fur her
when the Colonial Treasury guarantees the
interest, it would be right to take as little as
possible, so, that the DELIVERIES ought to share
with the shareholders after 6 pr. CT. besides
the percentage to 90 to the reservefund or
surplusfuud, say 8 pr. CT. In regard to this
latter item, it will be determined by the
statutes of the Company, what percentages
are to BE- lad aside for that purpose, but as
the TIe1sury's guarantee IS tor 20 years, he
supposed 2 or 3 pr. CT. would be all required
for the surplus fund it is therefore his personal
idea, that delivererS of canes will not stand
back for any higher deduction than 9 pr. CT
In his report to the Home Government he, the
Governor, had stated, in reference to the
interest here recommended, that without this
he did not entertain any great hopes of seeing
Central Factories erected here SO early as to
tako off the crop of 1876, if we did not go
to work a once therefore also be petitioned
the Home Govern nent to do all in Their
power 10 order to come to a final conclusion
with Mr.. Tietgen at once on the plan recon-
mended, an in case the guarantee given by
the Colonial Treasury should not prove suti-
Gent to enable Mr., Tietgen to raise money
and We must not be blind to such a posi-
blllty-, that the Home Government would
try to get the sanction of the Diet to a
eounter-guarantee of the Statetreasury. But
1t there be secured proper supply Of canes and
the undertaking be managed prop rly, he
felt perfectly convinced that the Statetreasury
would be running no risk by that counter
guarantee while the Statetreasury would
thereby rid itself Of the trouble in future
connected with a ruined Island, and al
80 have the satisfaction of having rem
dered assistance to a population living
here under we'll regulated an well organized
relations, aud who, my justly be considered
worthy of assistance and support in the troubles
arising from the recent untoward events.
And be hoped the Home Government
W uld entertain that view aud propose
the necessary steps in that direction.
But he would here repeat what he had
said on a former ceas;o, i, th.t we have
no promises, whatever 10 that or any other
respect, but only hopes, and the best way Of
supporting such hopes would be by our here
showing forth in action that we are ready and
willing to d. what We Gin towards furthering
the ma te". And he would 10 conclusion
here add, that besides the fact of the money
market in Europe b ';ng depress d, and hence
the difficulty to raise the requisite sum of
money, there is another circumstance to be
Doihe III mnQ, namely that up TO the present
moment he had not been able to furnish the
Home Government or Mr.. Tictgen with lufor-
nation of the estates owners readiness to
mortgage their properties to the full extent
that could be expected after the general
valuation as consent had only been given for
an amount of about 5000, 900 and it must be
admitted that this forms a cons de- able draw
back III forwarding the matter at home
Bird Crownmember (Percy) begged 10 behalf
of the Council and community t. thank His
Excellency for the interest he takes in the
Island and for the informatious given to-day
aud the Speaker would recommend to the
Couacil to adopt this Draft.
list Member for Frederiksted (Saraaw)
AS it appeared that none Of the Estate owners
pTescntint, nded saying aoy thing Oh tn reality
of this matter, b. would, after also thanking His
Excellency for the Calculations given and for
the trouble he gives himself to benefit tho
Island, only beg to enquire if, as the Draft
ex pressly mentions that the facilities are to be
in favour of a Joint Stock Company, the same
facilities would not be accorded TO- any, other
party who would forward the undertaking 10
question.
The Governor said it was only in the case
of a Joint Stock Company being formed, that
the guarantee would be given. He scarcely
thought any single individual would enter
upon such. an undertaking, aud no one would