186 



Timehri. 



in the far interior. The further aim is to secure a suitable population 

 for the coastlands which ought to be prepared for colonists by irrigation 

 and drainage under Government schemes. 



The Scheme actually recommended by the Sub-Committee adopts 

 the principle and the periods set out above but allocates £150,000 

 out of the Development Loan of f million stg. to the Eailway 

 Loan for settlement on the lands in the interior, thereby supplementing 

 His Excellency's proposal of £50,000 for those lauds. £600,000 remains 

 earmarked for the Coast labour and colonization. The figures given 

 above will have to be re-adjusted accordingly, making payments on the 

 Coast development loan begin at £26,523 in the fourth year and 

 increasing to £21,875, the Eailway payments to begin after the 

 sixth \ear. The later figures after the twelfth year will have to be 

 correspondingly adjusted. The total for both loans will not be much 

 different from our present estimate. Any deficit on working expenses is 

 not contemplated after fifth year from opening of railway. As against 

 expenditure we shall be able to reckon increased population on coast and 

 interior savannah, general development and railway connection with 

 Brazil. 



CALCULATIONS ON BASIS OF £600,000 FOR DEVELOPMENT. 

 First Three After Three After Six Tears. After Twelve 



lears. Years. 



Years. 



Nothing. 



(a) £18,750 be- 

 ing Interest at 3£% 

 on £600,000. 



(b) Plus interest 

 on £56,250 being 

 three years deferr. 

 ed interest, viz., 

 £1,757. 



(c) Plus Sinking 

 Fund for 47 years 

 on total of loan 

 and accumulation 

 on iuterest-£5,201. 



• Total £25,708 

 for interest and 

 Sinking Fund. 



Do. 



Do. 



Do. 



Do. 



Do. 



Do. 



If after 4 years then — 



(a) £18,750 



(6) £ 2,343 being interest on £75,000 



y«ars deferred interest, 

 (c) £ 5,430 Sinking Fund 46 years. 



Total ... £26,523 



