, 1876-04-22

course OF last meeting he had notified the pos
sibfIity of such a Draft being introduced, he
had not at the time received any documents in
The case, but his statement was based on tele-
graphic Information he had received, according
to which the Draft would embody two chief
points, viz concerning the Colonial Iressury's
guarantee for the repayment ofthe loan from
the Statetreasury as we'll as interest on that
and on the other portion Of capital to be pro
cured by shares.-and secondly concerning a
change Of the Labour Regulations. He had on
that occasion stated so much as would have
given a general idea of what was meant by
such a change, viz: the immediate abolish
ment of all restrictions on Saturday labour and
the pay for such labour, and the entire aboii-
ton Of the whole Labour Regulations within 3
years after. 1t will be seen from the Draft
ard the Motives thereto, that the establish
ment Of Central Factories has progressed
so far, that the Minister of Finances is au-
thorized to assist a Company for that purpose
By a loan from the Statetreasury to an amount
Of 2 Millions Crowns, or Million Rigsdollars
or G. $4,000, which is equal to the half Of
the total sum required for the undertaking.
When 8 years ago this matter was first mo0ted,
il will be remembered that the first objection
raised was where are we to get money from
10 carry it? we ourselves have it not, al
though the times and circumstances OF thu
Island we're not as disCouraging then as now.
1t was thought that parties in Paris or
elsewhere might be found willing to un-
dertake the business as q speculation. But
this proved to be attended with difficulties not
easy to overcome, besides the objection that a
Company Of entire foreigners would only look
to their WI profit, which might clash with the
interest of the community. Shortly after
Governor Gurde's arrival the matter was
preached in a more definite form, and we all
know how it is mainly due to his acquaintance
with similar enterprises in Europe and with
parties in Europe who interest themselves for the
island, that the matter has been carried through
to its present stage. Here in St. CroiI, how
ever, we have, unfortunately, gone on entirely
TOO GLOW with the matter we have allowed
favourable opportunities to slip through our
fingers, and The times have altered fer the
worse both hero and in Europe, and We are
beset with difficulties on all sides, although
there are, certainly also casual circumstances
that have retarded the progress, as for instance
the dissolution of the Diet just when the
matter was introduced last year. The Draft
then submitted to the Diet has, on being intro,
duced for the second time, undergone an altera-
ton and both Minister and Diet have shewn
every willingness to further the undertaking on
which the whole existence of the colony is
dependent. At the present moment be would
not enter into the details Of the Law passed by
the Diet and Of the obligations to be assumed
by the Community he would only beg to
mention that the Diet, as we are aware, has
on several occasions moved the question of the
Labour Regulations for this Island, but the
matter was not pushed by the Legislature, in
consideration and expectation of the establish
r1onf of Cap}ral Factories and tHa pbaryar
resulting from them. He would now beg the
honorable Chairman to have an English Trans
lation of the Law of25th FEBRUARY last concern
ing the Loan, and which had been prepared by
The Government, read to the Council.
The Translation Of the Law Of 25th Febru-
airy 1876 reads as follows
Lao authorizing the Minister of
Finances to assist the establishment
of Central Factories SC, and a
Credit Association for the Sugar
Estates tn st. CrOir.