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THE HONGKONG GOVERNMENT GAZETTE, 12TH NOVEMBER, 1879.
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commercial depression elsewhere, I thought we should have no reason to despair of the year 1878. It will be satisfactory for you to know that so far my anticipations have proved to be correct, and that the tonnage of vessels recorded as entering Hongkong in the year 1878 exceeds the tonnage that has been hitherto recorded in any year in the history of this Colony. I find in the year 1875 the total tonnage was 3,326,774, in 1876 this rose to 3,900,891, in 1877 it was 4,244,543, and in 1878 it reached 4,352,668; and the Harbour Master says that his returns show that the total tonnage entered and cleared at his office in 1878 was 8,982,593. The total tonnage cleared and entered in the year 1877 was 8,594,348, showing an increase of 388,245 tons. Now, to enable us to estimate the magni- tude of this commercial movement it is natural enough to compare it with the total tonnage entered and cleared in the United Kingdom, and I find that according to the last authentic returns before me that it amounted in the year 1877 to 51,531,000, whereas ours in 1878 was 8,982,000. In other words our tonnage, we may safely say, was something like one-sixth of the total tonnage of the United Kingdom. And another fact of interest is this, that if you endeavour to ascertain, which we cannot do here with accuracy, what is the value of this depôt trade, we find that in England, where they can do so, the total value of imports and exports amounted to £646,000,000, and as our tonnage is something like one-sixth of what it is in the United Kingdom, I think a predecessor of mine who estimated the value of trade of this Colony inwards and outwards at £100,000,000 was not far off the mark. And another gentleman who has a large knowledge of the commercial history and position of this Colony, Mr. GRANVILLE SHARP, in the early part of 1877, before I arrived in the Colony, printed a little state- ment respecting the commercial resources of the Colony, containing statistics of the leading import and export trade of Hongkong by which the probable accuracy of this estimate is confirmed. So far we have, therefore, no reason to complain of the year 1878. And I may, perhaps, remind the Council that that was the year in which it was asserted, by some otherwise highly intelligent gentlemen, that there was great insecurity of property in the Colony owing to a policy of undue leniency on the part of the local Government towards the criminal classes. We now know, however that, as far as a flourishing revenue and a flourishing commerce are any indications of general security, the result has not been unsatisfactory.
With respect to the Oriental trade, the Harbour Master says:- "There has been a considerable increase in the trade between this port and India and Singapore, as well as with Japan." As regards the latter, I am disposed to think from what I have myself seen in Japan and ascertained from the merchants there, that the Japanese trade with South China and Hongkong will increase more rapidly, in proportion, than any other branch of our Eastern commerce.
Now, gentlemen, with respect to the Estimates which I propose to lay upon the table, it has been hitherto my practice to submit from time to time the details of the Estimates to the Finance Committee of the Legislative Council, so that in fact the Finance Committee had before them the applications, more or less numerous, for increase of pay, the various applications of the Surveyor General for the expenditure of public money, and the applications of the officers who have the spending of money in other departments. But instead of pursuing that course this year I have, under instructions from the Secretary of State, adopted the course I am now taking, which is that of laying the Estimates before you on my own responsibility, and then, after the statement I make to-day, and to-day's pro- ceedings close, the Council will be able to adjourn when the Finance Committee can go through the Estimates, and then, at a reasonable time, the Council will meet and deal with the Appropriation Ordinance embodying the Estimates.
The revenue that my honourable friend the Acting Colonial Treasurer, Mr. TONNOCHY, anticipates for the year 1880 is based upon the actual receipts which he finds recorded in his books for the first nine months of 1879. My Honourable friend arrives at the conclusion that our revenue will reach the figure of $1,017,956. You will notice that under the head of taxes there is a falling-off. This is to be accounted for by the fact that under the head of Stamps I estimate for $115,000 only and under the head of Police assessment, Water- rate, Lighting rate, and Fire Brigade rate, I anticipate receiving a smaller sum than was actually received in the year 1878. But, as you are no doubt aware, the falling "off in the house tax arises from the fact, not that the Colony is less prosperous, not that we have fewer houses-for even in spite of the fire that destroyed 366 houses in December 1878 we have more houses at this moment than we had at any other period in the history of the colony--but it arises from the fact that last year I took the responsibility of reducing the rate from twelve per cent. to ten per cent. When I referred in my financial statement last year to the possibility of a reduction in taxation I drew your attention to the fact that there was a great difference between reducing such a tax as that levied on the native junk trade and reducing the house-tax, inasmuch as I stated that the former would require a legislative enactment, which it would be very difficult to go back upon, whereas the Governor in Executive Council is bound to review every year the question of the house-tax, and determine what should be the rate for the ensuing year. Therefore the reduction in that rate for the current year was not constituted a permanent reduction. I may inform the Council that an important proposal has been submitted to me by three gentlemen,-my Honourable friend the senior unofficial member (Mr. RYRIE), and two of the officers of the Government suggesting that water tanks be erected along the side of the hill overlooking the town to provide a supply of water for the extinction of fires.
A de-