, 1889-12-25

or BACK than to the OIL OF 1880, TO prove
the mistake of the Committee. The bill of
1885 as adopted by the Landsthing and
approved by the Minister of Finances, pro-
posed that the Military Expenses and
Military Pensions be taken over by the
State-treasury; those expenses averaged
up to S53, 210 in the 4 years 1856 18S8.89.
1t was expected at the time aud under the
circumstances that after the State treasury
had taken over those expenses, the Colo
NAL Treasury would have had a surplus,
which by the Landsthing was calculated ut
$4,000, which however was exaggerated,
and which it was intended should be APP.
piled first OF all to payment on the Colonial
Treasury's debt to the private Sharel1Oll-
ers in the Central Factory, say 1885,
yearly as, however, it was expected that
the Factory would not continue to Shew
a deficit, it was thought that after the
shareholders had been SatiSi ID, the sur
plus should go to pay instalments on the
Colonial TreaSury's debt to the State Trea-
SurY; the interest on the loan of 1876, S6,241
p. a., should be betrayed among the ord
mary yearly expenses of the colony. The
Colonial Trpasury's guarantee of the Cen
trail FactOry's debt toward the State Trea-
sury, representing $685. l0 a year, was re-
mitted. As q further condition for the
proposed financial arrangement it was Sti-
pulated in the bill that whenever a deficit
should appear, the Minister of Finances
should as early ~ possible bring in Il Bill
before the Diet, with the Colonial COunciNS
Report, showing how the deficit was to he
covered, which meant OF course by new
taxation or by some other new Revenue
raised 10y the colony itself. Such then
was the purpOrt of the Bill and the fnIn,
cial arran cement of l885.-The proposal of
Nl,h -onoro,NonIS ., fnr -, In
could make out the Report, that not only
those Military Expenses and Pensions,
953 ,21O, but also the Salary to the Govern
or, $3.50, besides the relinquiShing of the
de bt to the shareh olders, $l8,866, and the
interest ON the loan of 1875, 56,24l be paid
by the State Treasury, which items would
make up a sum Of $50, 057, altogether to be
struck from the COlOny's budget. besides
the guarantees to the StttetreaSury for the
Central Factory and besides something
more, some underlined expense which
the Committee thinks should also be
assumed by the State Treasury, and
the result of the financial arrangement of
the Committee would DO \ difference of
more than $28,S57 above what the bill and
arrangement of 1885 had in view. Be-
sides this financial difference between
the bill of 1885 and the Committees pro.
posal there il the important difference of
principle that while the bill of 1885 WAS
based upon the consideration that the debt
Should be- paid by the Colony itself, if neces-
sary by the aid of increased taxation, the
proposal of the Committee is based upon
the decomposition that the debt should be
entirely RENTED and no increased taxation
ever take place. In short there is about
the same difference between those two
proposals, as there is between the
present bill and the proposal made
by the Committee, and he could not
see otherwise than that it is q very
great mistake Of the Committee to refer
to that previously proposed financial
arrangement IS "a support for its proposal.
AS for differences between the present
bill and the Committed proposal, it will be
noticed thai the bill offers the following
financial facilities:
According to voucher I........ s42,825.OO
neX interest on the loan
of 1878..................... 6,241.OO
Next we know that simultane-
ously with the bill taking
effect the guarantee debt to
the Shareholders. ........ 1S,Se6,OO
and to the State Treasury,
amounting to S26,4lO, would
be taken off.
It is, the last mentioned qua.
rantoe debt not inCludAd. an f.