466 THE HONGKONG GOVERNMENT GAZETTE, 24TH DECEMBER, 1864.
Excise Revenue,
The gross amount of the duties of excise in the years 1842, 1853, and 1863, were:-
£14,616,083. 16,303,237.
18,207,000.
Total Revenue of the United Kingdom.
1842, 1853, 1863-64,
The relative additions and diminutions during the same periods were :--
1842-53,. 1854-53,.
Excess of Excise duty repealed,......
.£2,486,000 Reduced. 1,226,000 Imposed.
1,260,000.
During the whole period, therefore, the actual increase of the excise revenue was 3,590,9177., or upwards of 24 per cent
The total net receipts of revenue of the United Kingdom during the three years were as follows:-
1842, 1853, 1863-64,
..£52,763,147. 58,962,513. 70,721,892.
The gross revenue had, therefore, increased during the aggregate period from 1842 to 1863-64, 17,958,745, or 34 per cent., and that this increase was not due to augmented taxation is made evident by the following statement:-
Excess of Amount of Taxation Repealed over the Amount Imposed during the periods 1842-53 and
1854-63:-
1842-53, 1854-63,
Excess of diminution,.
£7,175,986.
4,407,966.
11,583,952.
Expenditure.
National Debt.
or upwards of 20 per cent. of the taxes existing in 1842.
The expenditure of Great Britain, which amounted in 1842 to 55,223,8747., was in 1853 55,769,252!., and in 1863-64 67,856,2867,
In 1842 the amounts of the unredeemed funded and of the unfunded debt were respectively:-
Funded,.. Unfunded,.
In 1853-
Funded, Unfunded,.
In 1863----
Funded, Unfunded,.
Total,..
£773,068,340. 18,182,100.
791,200,440.
.£761,622,704.
17,742,500.
Total,.......
779,365,204.
Total,..
£777,429,224.
13,136,000.
790,565,224.
In consequence of the actual or aproaching termination of various annuities the amount of the debt has been considerably lessened. The estimated capital value of these annuities has not been computed previously to 1855. Since that date, however, they stand as follows:-
1854-55, 1862-63,
Difference,..
£26,763,244.
17,757,183.
9,006,061,
The whole amount of the debt stands at present, therefore, almost the same as in 1853, whilst the actual funded and unfunded debt is now less than it was in 1842.
Board of Trade, September 9, 1864.