This sum began to be paid in 1822, and has been paid for 8 years, during which the obligation amount to £3,600 0 0 The former obligation amounts, for the 10 years now elapsed to £10,000 0 0 ------------- Total amount of the two obligations imposed £13,600 0 0 The debt at the commencement of the 10 years elapsed amounted in rents and money, including the cost of the Market, to £43,668 15 2 The Debt, Rents and Market included, has been reduced to £27,740 0 0 ------------- Total amount of the sums actually applied to the payment of the Debt £15,928 15 2 "The conditions of the second Order in Council have thus been more than fulfilled, by the application of £2,328 15s. 2d. to the payment of the debt over and above the obligations imposed. Those conditions, incidentally introduced in the second Order, do not in any way form a part of the third Order now in force. "Though released from the positive conditions of the former Order, the States have shown no intention, and do by no means desire to depart from its general spirit; graciously offered by the third Order in Council to continue their improvements, they came to the following resolution on 22nd November, 1826: 'That far from entertaining any wish of augmenting the Debt the States recognise the principle that it should not exceed, at the end of the 15 years for which the duty is further granted, the sum to which the Debt shall amount at the end of the 10 years present duty: they impose on themselves that obligation anew, and bind themselves by the most solemn engagement not to increase the debt.' * * * * * "What cause of alarm can there then possibly exist? What prospect, on the contrary, the States humbly ask, can be more gratifying than that of remaining with our New College, new Harbours built and to be built, new Markets of every description, new Roads in every direction, new streets, one of thirty feet instead of seven in the greatest thoroughfare between town and country, in short, with nearly all the greatest improvements that can be desired, paid for to the last shilling; and all this according to the statement of the plaintiffs themselves, with the debt reduced to £15,000, and the revenue augmented £1,700 per annum, by those very improvements. * * * * * "In the Markets and Fountain Street, the States have undertaken works essentially necessary. The cost might be supposed to exceed the means of the States, if credit did not in the first instance furnish the chief expense without the charge of interest, and if the works themselves did not provide for the extinction of the engagements incurred.