692
THE HONGKONG GOVERNMENT GAZETTE, 26TH AUGUST, 1882.
3. The Secretary of State, in recently conveying his decision that the construction of the Tytam Water Works should be at once undertaken, has expressed the opinion that as these works will largely beuefit the Chinese Community, the Special Fund, so far as it will go, might be very properly applied to this purpose. I propose therefore, with His Lordship's sanction, to close the Special Fund Account The Tytam Water at the end of the present year, and to transfer the balance to general account. Works, as well as the expenditure for completion of the Breakwater at Causeway Bay will then be charged against balances. It will be seen that in the present Estimates these Public Works are only referred to in a note, and also that the contribution to Police Expenditure from interest produced by the Special Fund, as well as the provision for refund of loans from this Fund for the construction of the Praya and Lighthouses have been omitted.
4. In a despatch which was recently laid before this Council, the Secretary of State observed that premia from purchases of land, which are receipts for alienation of Colonial property, ought to be regarded in the light of Capital rather than of Annual Revenue. I have accordingly omitted this item from the Estimates of Revenue for 1883. As it may be interesting to know how much these premia have yielded, I have had a statement made up from which it appears that the total sum received since they were first levied in 1851 is $1,069,504.00. This sum is within $25,000.00 of the total
year. It may balance of Assets to the Credit of the Colony at the commencement of the
be considered, therefore, that the Receipts from the Establishment of the Colony, up to the present time, including both Imperial Grants and Special Fund, but excluding these premia, about balance the expenditure during the same period. During the early period after the occupation, the Expenditure was greatly in excess of Revenue, but in the course of the last ten years the excess of Revenue over Expenditure, In the two years 1874 and 1876, the excluding premia on land sales, has amounted to $432,386.00. Expenditure exceeded Revenue by $100,000.00; the $432,386.00 represents, therefore, the nett excess after deducting this sum. The progress which the Colony has made as indicated by these figures is most satisfactory.
REVENUE.
5. I have estimated the Revenue for 1883 at $1,115,665.00. In comparing this figure with the receipts for 1881, which were $1,324,455.00, and with the Estimates for the present year, which are $1,131,860.00, it must be remembered that premia on land sales and the contribution from Special The Grant-in-Aid of the Lock Fund for Police have, as already explained, been omitted this year. Hospital by the Admiralty has also been omitted, because a separate account is now kept of all other Receipts and Expenditure on account of Ordinance 10 of 1867.
If these deductions be made the Receipts of 1881 will be reduced to $1,113,945.00, and the Estimates for the present year will not be more than $1,100,960.00.
-
6. I think that in estimating the Revenue for 1883 at $1,115,665.00, I have not been too san- guine. There is an increase of $5,000.00 under the head of Licences, which seems to be warranted by the receipts of the last six months. Interest has also been increased by $10,000.00, on account of the proposed transfer of balance of Special Fund to general account. This item will probably be higher, but it will depend upon the progress that it will be possible to make with the different public Miscellaneous Receipts." works in the course of next year. There is also a considerable increase, in which is based on the collections from this source, especially for Storage of Gunpowder, during the first half of the year. Fines, Forfeitures, and Fees of Court show a small increase of $2,000.00, and Fees of Office are augmented by $3,000.00, for although a reduction of $5,000.00 has been made on account of the stoppage of the extensive Emigration to the United States, this is more than counter- balanced by the increase on Light Dues, Registration of Deeds, &c. On the other hand, I have made a reduction of $10,000.00 for Stamps, the collections on this account appearing to me to have been abnormally high for some time past, principally owing to transfers of land and litigation connected therewith. Reimbursements in aid of Expenditure are $8,000.00 less, the Estimate for convict labour having been reduced, and the two items Contribution by Admiralty, and from Special Fund having been omitted.
EXPENDITURE.
7. I have estimated the Expenditure of 1883 at $1,081,732, which may be classified as follows:-
Ordinary Expenditure,
Public Works, Roads, &c.,
Military Expenditure,
.$ 810,915
161,750
109,067
$1,081,732
The Ordinary Expeniture in 1881 amounted to $762,660, and for this year it has been estimated at $792,816.
The increase of over $19,000 shewn in next year's Estimates is thus explained.