I now come to the expenditure side, and Tam afraid that while we may possibly have a small expansion of revenue, we cannot hold out any hope of a curtailment in expenditure; the growth of our expenses is only satisfactory from one point of view, and that is, that it is concurrent with the growth of the settlement, for the experience Of the past teaches us that we should always allow a margin for unexpected contingencies and growth of new wants. Situated as we are in the midst of an immense tive population, we believe that we are carr out the wishes of the Ratepayers in making liberal provision for the preservation of Jaw and order, for sanitary measures, for the maintenance of public works in a sitisfactory condition, and for the general dininistration of the Settlement in such a that the high standard which has been handed down to us by our. predecessors will be maintained and continued. If a this is to he done, it means a large expenditure; foreign wages and salaries have had to be advanced to meet the increased cost of living, and we have now arrived at the tine when the charge for interest and repayment of loans amounts to Ts. 94,000, or one-eighth of our total income. That we are able to do this, that residents can live here practically free from all taxation e: cept a tax of 10 per gent un their rentals or the equivalent of 2s. in the £, is anatter, I think, for congratulation. T defer, however, making some further remarks on this point until I have referred to our ordinary expenditure in detail.
Text read from the printed page and cleaned; old type leaves the occasional error.