§ Mr. ALDENasked the Secretary for the Colonies why the exceptional import duties are still being enforced in the island of Montserrat, to build up a reserve which is not insisted upon in other Crown Colonies, especially in view of the fact that the excess of taxation over expenditure is more than sufficient to meet any possible preference in the import duties on Canadian produce?
Mr. HARCOURTExperience has abundantly shown the need for financial caution in the West Indies, and the policy of building up reserve funds in time of prosperity is now adopted in most of the West Indian Colonies. The accumulated balances of Montserrat are now over £9,000, and it is not proposed that the reserve fund should exceed £10,000. Accordingly it should be possible to consider the question of reducing taxation in the island at no very distant date.