, 1876-04-12

~ S0'~
nary meeting on Monday. The subject
for discussion was the Money Bill for
$4,000 for defraying Bureau Advances for
April etc.
The Chairman offered some explanations
on certain combinations required and
implicitly sanctioned by the granting Of
the amount. The Bill was adopted unan-
imousIy.
His Excellency the Vice Governor then
introduced a draft, copies Of which had been
laid on the members places, concerning
the establishment Of Central Factories
and alteration of the Labour Regulations.
His ExcelIency dwelt at some length
on the origin of the Draft, being intended,
so far as the Colonial Legislature is con-
cerued, to fulfil some of the conditions
prescribed by the Law Of 25th February
a. c, by which the Minister of Finances is
empowered to grant a loan Of 100000
Crowns (about S500,000) towards the
establishment of Central Factories and for
assisting other undertakings connected
Herewith. There are two principal con
ditions exacted by the said Law, the first
being that the Colonial Treasury guarantee
81. ct. interest on this loan, as well as
on the other portion Of the capital to
be invested in the business, that 10,
on the amount subscribed in shares,
besides 2 p. ct. Of the loan from the
State Treasury as instalment. His Elk
c|eIlencv showed that this would cause
no other change in this respect in the stIpu-
latiOns contained in the Ordinance Of oath
December 1874, or cause amy greater
burthen to the Colonial Treasury, than
that the whole loan will require % years
to be repaid instead of 20. II both cases
6 o.. Ct. on the whole capital invested
would be guaranteed The other principal
condition In the Law is that 1t shall be
enacted that rural Iabourers be at liberty,
as soon as a Central Factory comes into
operation, to contract freely concerning
their Iabour on Saturdays and the pay tor
such labour, and that latest 8 years after
that period the whole of the Labour Regu-
lation shall be abolished. His ExcellenCy
mentioned that the Diet had on several
occasions touched upon this question, but
the Home Government had retralned
from entering on any change IN them,
pending the Central Factory scheme.
The aforementioned Law now enacts the
change as a condition for the loan, the
Diet having found thu. the state of things
created by those Regulations has been ono
of the c%oncomitant causes of the retrOgres-
sion of the island. His Excellency recon-
meuded a speedy settlement Of this mat
ter, to enable him to afford Governor
Garde the necessary information to aid
him in his endeavours to raise the capital
required from subscription. His Excellen-
cy concluded by some remarks on the
manner of the paying out Of the loan from
the State Treasury, and pointed out some
errors in the English translation OF the
Draft.
The Chairman regretted that the Law
had not been printed together with the
motives. It would be seen that the origi-
nal Draft submitted by the Home Govern
ment had undergone some changes IN the
Diet. The conditions of the Law as it
stands are final, and the question is simply
whether we will accept the offer or not.
II we accept, we further the scheme, if
we refuse, the matter will be at a stand
still. The Ordinance Of oath December
1874, passed by the Council and sanctioned
blythe King, can no longer be used, nor will
the later Ordinance for prolonging the term
for granting the facilities there warranted
be submitted for Royal signature, after The
emanation of the Law. With execution