I).—1

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next, and we believe that in this way the loan expenditure may be gradually brought to an end, after March, 1891, without on the one hand increasing our burdens over much, or on the other hand putting too sudden a check on the progress of colonial industries. I would also wish to say, Sir, in conclusion, that throughout the whole of the investigations necessary to frame proposals calculated to bring about this result —and which I confess I have found to be a very difficult task—l have received the most cordial assistance from all the chief officers of the departments over which I have the honour to preside. ■