£750 for British Navy
p. 44 · Read in the full issue
G. And E. Gift
THE Government of the Gilbert and Ellice Islands offered £750 recently as its contribution towards the cost of the defence services of the Empire.
The offer has been gratefully accepted by the British Government, and the High Commissioner for the Western Pacific (Sir Murchison Fletcher) has been asked to convey sincere appreciation to the colony.
The Resident Commissioner’s report for the year 1931-32, just to hand, shows a deficit on the Colony’s finances (rev enue £49,110; expenditure, £53,946) of £4836. This was the first deficit record ed for many years. The surplus usually is anything from £10,000 to £20,000.
The accumulated surplus, from 1925-26 to 1930-31 was nearly £70,000. The Col ony’s statement of assets and liabilities shows no public debt, and an excess of assets totalling £111,364. The main sources of revenue are customs duties, native taxes and licenses. There is £90,000 lying on fixed deposit.