162 ADDENDA TO THE MINORITY REPORT 



The portions of rent payments deferred by the 

 State would, with compound interest, amount to 

 £23 145. Id. by the following stages : 



Ist year. 

 2nd year 

 3rd year 

 4th year 

 6th year 

 6th year 

 7th year 



Weekly. 



8. d. 



3 6 



4 



4 6 



5 



6 6 

 6 

 6 6 



Annually. 



£ 8. 

 9 2 



10 8 



11 14 



13 



14 6 



15 12 



16 18 



Towards Int. 

 & Repayt. 



8. 

 10 



d. 

 Ill 



£ 

 4 

 5 

 7 



8 8 Hi 



9 14 111 

 



16 lU 

 2 Hi 



11 



IH 



Comp. Int. 



Debit Balance. 



£ 8. d. 



6 11 



5 5 



3 19 



2 13 



1 7 

 \ 



19 16 

 3 18 



£23 14 1 



To clear the amount of the portions of interest and 

 capital repayment accumulated during the first six 

 years, viz. £23 145. Ic?., would require £1 55. Q^d. annually 

 for the remaining fifty-four years. This could be suppHed 

 by the reserve balance of the 65. 6d. rent, viz. £1 55. ; 

 the odd pence annually being paid from the Sundries 

 Allowance. 



Instead of extinguishing the extra cost of building 

 over pre-war prices by a bonus, it might, of course, be 

 thought preferable to meet it by a loan at a low rate of 

 interest on the Total Cost. That is to say, there would 

 be no bonus at all, but the interest asked by the State 

 on the whole capital advanced would be much lower. 



It should be remembered that in putting the life 

 of a cottage at sixty years — ^the period of the proposed 

 sinking fund — ^we are making an extremely moderate 

 estimate. A well-built cottage kept continually in a 

 good state of repair should last well over a hundred years. 



