1844.] 



of a Pier at Madras. 



to your Lordship, I shall proceed to a statement of the expenee required 

 for the execution of the work, and contrast it with a detail of the means 

 for defraying the amount thereof. 



The entire expenee of erecting the work I propose for opening the en- 

 trance of the river, and deepening the channel both towards the Wallajah 

 gate of the Fort, and by the intended new bridge to the south-west angle 

 of the Black town wall, and continuing it as before described to Pop aam's 

 broad-way and on to the basin in Attapollam likewise, to complete the 

 canal round the Black town, from the Hospital gate to the north-east 

 angle, and there to join the sea as before described, also to lead a branch 

 through the curtain to join the before mentioned basin in Attapollam, 

 with the consequent expences of new Custom house draw bridges &c. 

 agreeably to plans, will not amount to more than 3,60,000 Pagodas, as 

 will be shewn in the estimate No. 9 annexed. 



From an examination of the tables annexed, which are drawn from the 

 offices of Government, it will appear that the duties hereafter proposed, 

 if granted by the authority of the Honorable Company to the subscribers 

 forming a fund for defraying the expences of either of the plans proposed 

 for a period, proportioned to the expenee incurred, would yield a consider- 

 able profit to the subscribers, that is, suppose that, for the first plan of the 

 Pier, estimated to amount to Pagodas 300,000, which with the expences 

 of supervising &c. might possibly be increased to Pagodas 350,000, the 

 duties proposed were granted to the subscribers for a period of not less 

 than fifteen years. 



The capital expended together with the interest for that period at ten per 

 cent will be found to amount to Pagodas 875,000. The income proposed^ 

 as deduced from the Customs of only last year, and Master Attendant's 

 Offices for the average of four rather unfavorable years, continued for the 

 same period, will amount to Pagodas 1,071,150 yielding a profit of Pago- 

 das 96,150 over and above ten per cent on the capital. Again, suppose that, 

 to execute the second scheme, the capital laid out on the work, increased 

 beyond the estimate in the same manner to 400,000, this, with the inter- 

 est for eighteen years, will be found to amount to the sum of Pagodas 

 1,120,000. The income derived from the duties proposed for the same 

 period,will be found to amount to the sum of Pagodas 145,740 to the sub- 

 scribers, over and above the capital, and ten per cent interest, exclusive of 

 the advantages of receiving it in annual payments, which if calculated ac- 

 cording to the rules of compound interest, will be found to be considerably 



9 



