, 1891-10-07

growing but on the whole, the prospects are
very promising; for those who have good
prospects, 1t would be hard to have to give up
at tne present time and it becomes o duty of
the government to Aelp parties 90 situated. if
IL can DC oone without jeopardizing the means
OF the immigration Fund. and the haIn shouId
be gwen alta cheap rate, if to be- Of beneft.
bureau right in the crop is a security which
Government ought to consider satisfaotorv nm
DER the circumstances, although he for his mart
must admit that he knew money had been lost
even on bureau security. The proposal names
self debtor security, which means that the one
Planter shall endorsefor the other, he did NOT
know how many would be willing to do that:
az allfvents 1t is an open question. As re-
6aLoS me loans, there might not sbe az many
mNnE 'hem as Is now expected but some
enort should bemade to help those who need
assistance. O
End Member forfor Christiansted NtaEennnn
would beg to say, that he could not see whv
an ordinance should be necessary. The I'm.
mlgratlon Fund is a fund like everv other
PuDlo fund, and he could not see WHY the
means OF that fund should not be lent out ON
goou security without provision thereon
tnrough an Ordinance; as far as he knew. loans
4ao also In former times been given from the
immigration Fund withoutthat formalitv even
loans from the Colonial Treasury. It seems
10 MN that there is no more reason now 70 have
an ordinance. With reference to the chem
rate OF interest, the question arises if il will he
70 the benefit of the parties really needing helm.
Aoran planters who are we'll placed can get
money now at 6oIo, but if these loans be at
900 they will come nc will get them in pre-.
ference. and the chances for the less favourablv
SITUATED would become lessened; it is but
human 70 expect that. AS regards loans on
bureau security, 1t would be requisite to obtain
ene consent OF the mortgageholders, who in
most cases hold a preferential light in the
estates crops. He could, to return to the mat
ter OF the Ordinance, beg to add that spcb
might be necessary if it were the intention to
use the immigration Fund for the purpose in
question, but here we have only loans to keen
estates agolng by paying labourers' wages.
Inc G0rernOr said he could not agree in the
vleWexpressed by the honorable End Member
1or Chrlstlansted (StakemannJ that the Gov.
eminent has power to invest the capital in
question on the terms proposed for. in the
nrst place, all other funds under public admin.
istratlon are, with one exception, ordinarily
lent out only on the same security as bv
Iawprescribed for investment of minors means.
this 1lethod, if followed in applying the Immi-
grafton Fund for the purpose under discussion
"ouiu TAKE TOO long time in such case. and
moreover the result would be that the capital
would not be available when required for the
original purposes; but then, when the Immi-'
grafton Fund cannot be lent out on those usual
conditions, 1t is requisite to have an Ordinance
to provide authority for the exceptional invest. "
ment and the terms thereof. AS far as he
knew, 1t had also always hitherto bees the
practice, whenever funds were to be raised
for granting advances to planters on bureau
time.
4th Member for F~rederiksted Country Dis
trct (McDonGld) would in reference to the re.
marx from End Member for Christiansted
(Stakemann) about the cheap rate beg to say
mat the cheap rate would not benefit exclusive
~ tne estate owner receiving the loan, but it
would benefit the whole, as by keeping the
iaoourer from starvation and vagrancy we re-
nevea just complaint made by all having with
estates to do; moreover, not only the labourer
and the employer would be benefited but the
Treasury would be benefited too by the increas.
ed production resulting from the occupation
OF a constant labour force on the cultivation:
He couldnot see that 8 per cent. would be too
little on the loans in question.
ITO be continGed.)