of the Colony
There are circumstances, to which I might allude as illustrative of the difficulty of raising a revenue in this Colony to meet the civil expenditure, but I will merely state that Hongkong is a barren island, composed of rotten granite and decomposing sandstone with scarcely sufficient entire pasturage for a few goats dependent on the Chinese, in the Emperor of China's dominions for the daily food of 25000 inhabitants and with a surface rugged and unproductive.
I level a spot fit for the establishment of a large town, that there is not a sufficiently large spot on the island to put even a few Companies of Marines through their usual Exercise.
On a review of the whole case it must be admitted there are very great difficulties in the way of raising a revenue in the Colony, to meet its civil expenditure.
The imposition of a tonnage duty however small would it is alleged, prevent altogether the few Merchant ships that now come to Kowloon from calling here on their way to or from the Northward out and Counter.
The establishment of a License System for shops and traders might check those who are now temporarily located here.
An Auction duty of 2 1/2 per cent would require the sale of £1000 worth of property annually to produce £25 per annum.
And some sort of stamp duty would be difficult to enforce.
It is difficult to ascertain the sum to be derived from the rent of building land. Hitherto sales have been almost fictitious, and were based on speculation as the portion of ground practically available for building, except at an enormous expense, is exceedingly small.
Under the circumstances...
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