promulgating this enactment was to limit the utmost amount of interest claimable to 12 per cent, whereas 3 per cent per mensem was a legal rate among the Chinese by their native law. It was at the same time probably passed under some misconception as to the existing state in England of the Law Concerning usury. The Ordinance in question will be discussed and amended in the Legislative Council with the assistance of the Chief Justice, and probably repealed by a new Ordinance.
Ordinance No. 8, intituled "An Ordinance for prohibiting the distillation of spirits within the Colony of Hong Kong" was doubtless passed in pursuance of the instructions conveyed in Your Lordship's Despatch of the 25th June, 1843, with a view of raising a Revenue from the consumption of Spirits. Such a revenue is now obtained, and as it is a legitimate and will probably be a fruitful source in time, I beg to recommend to Your Lordship the confirmation of the Ordinance in question.
The most important of the Ordinances which I have had the honor to transmit, have been accompanied by a report as to their origin and objects; but I shall revert to my correspondence on these subjects, and report further on any that seem to require more specific notice, under the rule prescribed by Your Lordships, that they should be accompanied by a statement of the motives in which they originated, and the results contemplated by their enactment.
I have the honor to be,
With the highest respect,
Your Lordship's,
Most Obedient,
Humble Servant.