57.


 The obligations originating from the issue of the bills of credit circulating in the
 islands will as hitherto rest on the finances of the Mother Country. The amount of such
 bills of credit can only be altered by Law.

 Those amounts in cash belonging to the State Treasury in the respective
 Chests in the islands are to be withdrawn successively, the Minister of Finances being,
 however, authorized to allow that an adequate portion of such amounts be retained in
 each of the Colonial Treasuries until sufficient cash of their own has been
 accumulated.

 The Minister of Finances is authorized to cause such outlays as may be
 required in the Mother Country for account of the Colonial Treasuries to be defrayed,
 as hitherto, from the State Treasury, so that said outlays be properly charged in
 account with the Colonial Treasuries. The Governor may likewise cause sums of
 money to be received or paid, as also coins or bills of credit to be exchanged by either
 of the Colonial Treasuries for account of the other, such transactions to be duly noted
 mutually.

 58.
 The Superior Authority shall every year communicate to the Colonial Council a
 Draft of a Budget, containing an estimate of the revenue and expenditure of the
 respective Colonial Treasury for the following financial year.

 With regard to those items in this draft, that are not posted in conformity with
 existing Laws, Ordinances, Royal Resolutions, or according to other rules that must be
 considered binding until they are repealed by the Legislature, the requisite Drafts of
 Ordinances or Money-Bills shall be laid before the Colonial Council to be voted on.
 After the last-mentioned drafts and bills have been discussed in the Council, the draft
 of the Budget shall be rectified by the Council, in so far as may be necessary,
 according to the vote passed in the Council, and then be transmitted to the Superior
 Authority within the time stated in the Rules of Business.

 If during the financial year question arises of any expenditure for the Colonial
Treasury, not provided for in the Budget, an extra-grant will be requisite.

 The yearly Budgets, as well as the extra-grants are to be laid before the King for
His sanction, and when this has been obtained, they shall be promulgated and are to
be laid on the table of the Diet in its approximate session.

 59.
 No tax can be imposed, altered or relinquished, except by a Law or an
Ordinance.