184 



Timchri. 



Figures. 



It should be noted that the figures set out below, which make no 

 pretence to official authority or to actuarial skill, would be somewhat 

 reduced in a calculation allowing for the fact that the Development loan 

 would not be fully called up until the beginning of the fifth year nor the 

 Railway loan until the beginning of the fourth. On the other hand the 

 annual interest on deferred interest a3 it accrues, i.e., compound interest 

 is not taken into account so that I have made a rough balance. The 

 calculation can also be worked out in other ways, e.g., on the basis of 

 deferred payments and at the expiry of the free period payment of a 

 Combined Sinking Fund comprising all interest charges. The main point 

 is to give the people of the colony some reasonably accurate idea of 

 what their ultimate liability will be. The figures have been checked by 

 Mr. John Boilers to whom I take this opportunity of expressing my 

 sincere thanks. 



