, 1876-06-17
THE "AVIS."
ST, CB0II
Saturday, June 18th 1876.
THE STATE TREASURY'S LOAN
TO ST. CROIX,
BILL ADOPTED BY THE FoLKETHING.

The Danish papers by the German mail,
which arrived here via Westend on Wednes-
day, go to the Gath ult. The following con-
corning the above loan is from the
BerIlngSke Iidende Of that date 1.-THE
Minister of Finances laid before the Fo.ke-
thing to-day the following Draft Of Law
concerning a temporary Loan to the MUM
cipality Of st. Croix The Minister OF
Finances is authorized to grant from the
State Treasury a temporary Loan of
100000 Crowns to the municipality of
st. Croix, at A per cent. interest and paya-
BILE ] year after its being granted In the
Remarks which accompany the Bill the
following is noticed The establishment
of one or more Central Factories 10 st.
Croix, assisted by the State Treasury ac-
cording to Law of 23th Feb. q. c., has for
its object, as already WeII-known, to re-
move for the future the causes of the
crisis from which the principal resource
Of the island, the production Of sugar, has
been suffering during a series OF bad crops
and declining prices, so that the admins
trati0n and success of sugar plantations
would be less dependent on the greater or
smaller quantity of the rainfall, by improved
tilIoge partly, and would also require
less expenses and give a more valuable
product. Until this object be attained,
the problem before the community must be
to prevent the estates from being turned out
OF cultivation. The island has made great
etfortsin this respect during latter years.
In 1874-75 Bureau-advances to an amount
~ y,Nvu0r1 NJ G1EE nm ,-o.o 1911 - l..
ing the first IL months of 1856 about
SCI 600, in order to enable planters to
continue the cultivation of their estates,
and the Colonial Treasury has, besides,
endeavOured to obviate the sequence
Of the difficulties, which in the bad years
had surrounded planters with regard also
to the credit required from the merchants
who have provided the estates with food
supplies. These efforts on the part of
the municipality have hitherto so far Sc
cured the production of the island, that
there was good reason to expect that the
proprIetors would be able to repay the
Colonial Treasury the advances made and
arrears OF taxes, besides having sufficient
resources for securing their credit for the
future, if the island had only had an aver
age crop this year, Of which there were
good prospects. AS will be seen, how
ever, from q letter to the Ministry of FL
nances from the Governor of the Danish
West India Islands, who is at home at
this moment, these good prospects have
been frustrated by the prOtracted drought
that prevailed during the most important
months. On account of this state of af-
fairs it will now be necessary, as the means
OF the Colonial Treasury are exhausted,
again to assist the production and credit
OF the island in the anne manner as by the
loan granted to the Colonial Treasury
from the Reserve Fund of the Kingdom.
and which, in the opinion OF the Cover
nor, can be expected to be covered at the
end of the crop. The resources of the
Colonial Treasury are weakened, not only
by the circumstance that a portion of the
Bureau-advances-to an amount of about
8 6,OOO-cannot be expected to be refunded
immediately, but also by a considerable re-
ductlon OF the annual revenues, owing to