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81
future, have been fully developed. It may be here remarked
that, the "present is not the definite era only to be provided
for, if necessity now exists, it will increase year by year;
and we submit that, to lose this opportunity for such future,
it is the duty of the Vestry to prevent.
The fourth section of the Surveyor's Report continues
thus:—
"Fourthly. As to the approximate outlay to be
incurred, in order to convert this land to the purposes
before referred to.
I estimate the purchase of the land and the construction
of the necessary Works of the Railway and Vestry
Sidings, Inclined Planes (or connecting roads), sewers, &c.,
at about £9000 to £10,000.
This amount could, I presume, be obtained by loan
from the London County Council, for say 30 years, at
about 3½ per cent., repayable by annual instalments of
Principal and Interest.
The Loan contracted as above, viz., £10,000, repayable
in 30 years, at 3½ per cent. per annum, would amount to an
average yearly payment of about £520.
But the first and early payments would be about, per
annum, £683."
Reply of Committee. As to the Surveyor's estimate for
the purchase of land, &c., we are of opinion that, although,
in all probability, the approximate amount therein stated
may eventually be required, and we do not propose to
challenge his figures, which no doubt have been carefully