The financial clauses of the Bill create a special fund
out of which payments under the Bill are to be made. This
fund is to be supplied by : (1) Sums annually voted by Parlia- ment ; (2) a sum of E2,500,040 charged on the Consolidated Fund and payable in five annual instalments of .2500,000 each in 1911, 1912, 1913, 1914, and 1915; (3) sums received by way of interest on and repayment of loans, and the profits made as the result of a grant or loan in cases where the repayment of such profits is made a condition of the grant or loan. It will be seen from these provisions that, while the initial arrangements for the dissipation of public money are by no means small, the possibilities of future waste are unbounded. Under the pressure of local interests and political competition the two parties will be tempted to vie with each other in development schemes till the imminence of national bank- ruptcy and the scandals of useless, and even corrupt, expendi- ture force the overburdened and disillusioned electors to cry " Halt !" We can only hope that it will not then be too late.
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