F
NO FRESH TAXATION provision of the office equipment
NEXT YEAR.
[Continued from l'age 6.)
entered on page 18. The whole scheme is estimated to take some ten years to complete at the rate of 1,500. new leases per annum, and it is anticipated that it will be self supporting The cost of ja lauso dealing with the original saction
HỒNG KÔNG DAILY PRESS. FRIDAY, SEPTEMBER 23, 1932.
THE COLONY'S FINANCIAL POSITION.
THREE YEARS REVIEWED BY COLONIAL TREASURER.
quently when it is in ute staff has of a lot it is proposed to make 800 COMMITMENTS FOR THE FORTHCOMING
to be withdrawn from other hos pitals, which is unsatisfactory.
Banitary Inspectors.
AN
charged for each additional lease issued to other houses on the same section.
are explanationa of euch detail in the footnotes.
YEAR.
The following memorandum on the financial position during 1931, 1039 and 1933, drawn up by the Colonial Treasurer, was laid on the table at yesterday's Legislative Council meeting:-
1931.
Revenus for the Year.
The revenue for the year amount, ed 833,146,793 an against the original estimate of $27,488,759, an increase of 86,887,004. The revenue was well maintained all round, in- creases being shown against each Head as compared with the original estimate.
were
į
Water Excess Meter and Rents Message Foos (Wireless). Postogos Kowloon -Can- ton Railway Rent of Gov- ernment Pro- perty. Land Sales ...
This shows a deficit on the year's working of 2000,679 in' addition to which a further $500,000 on account of the Naval Arsenal has to be met from durplus Balances. - The total estimated deficit for the year is, therefore, 81,106,67%.
Authority, has, however, been ob- tained to charge the above sum of $500,000 to Burplus Balances and in time it is expected to recover the cost of the Naval Arsonal Yard but not until it is handed over. Past experience has almost invariably shown that there are large savings and under expenditure which will more than cover the deficit of $300,072 as shown in the printed 350,047 estimates.
The sim has been to 503,405
maintain our surplus at well over $10,000,000.
649,304
1,020,000
800,000 1,540,000
1,100,000
047,871
€73,032 €350,050
1,407,300 1,750,000
Total......$28,050,300 $13,775,144
con-
It will be seen""that there is a short fall on liquor and tobacco duties, due to the rise in the dollar. Thero has, however, been siderable increase in the revenue from locally manufactured liquor. The Opium Monopoly is losing ground and shows a considerable Meter Rants continue to expand and Railway Receipts are very satis- factory. Both postal receipts and wireless message fees are below the estimate,
Water Excess and
Land Sales Disappointing. Land Sales are disappointing and show a largo decrease when com- pared with the estimate and a still greater decrease when compared with the receipts for the first half of 1031 which amounted to. $1,429,208, It is most unlikely that the estimats of $1,750,000 for 1939 from this source will be realised.
The anticipated excess of Amets over Liabilities at the close of the year 1933 is arrived at as under:-
Actus Excess as at
..811,347,029
1/1/38
Revised Estimate of
Revenue 1032...... 33,152,074
44,500,303
Revised Estimate of
Expenditure 1039
Estimated Excess at
31/12/32 Estimated Revenue
1333
32,687,500
11,819,803
34,002,875
45,013,378
Estimated Expenditure 1933:
From general
revenue ...$34,009,575 From surplus
balances ineluding $500,000, Just instal-
mont
"for
Naval Ar- sonni
ין
Oce of the recommendations of
Summarised now posts, as will the Retrenchment Commission was bo been from the Recapitalation Le replacement of European by on the last page of the Abstract of
A Differences amount to Asiatic Sanitary Inspectors,
8358,081. scheme, which has been approved Three lakhs of this is made up by the Treasury, in principle by the Sanitary Board, the increases in has been devised and it is propos-Police, Medical, Sanitary, Educa- ed to make a start next year with tion and Public Works Depart the appointment of six Probation-ments, with which I have generally ary Inspectors who appear at the dealt. Posts abolished amount to top of page 80 of the Printed Es: $127,015. There nates. They will have practical
Road Construction. work under the Medical Officer of Health and will attend a course of
Turning to Public Works Ex- lootures on sanitation, bygien, etc., traordinary, I would refer you first preparatory to the Royal Sanitary to the Wally detailed memo pre- Institute examination for
Sami pared by the Director of Public tary Inspectors. After passing the Works, in connection with which examination, they will take their would like to state in passing that
In view of the fall in the value place in the Inspectorate as vacan- it has since been decided to reduce cies occur or new posts are creat the width of certain sections of the of the dollar from 1s. 4d., on which were prepared in ed. Moreover as recruitment will road between Causeway Bay and the estimates be limited to Cantonese or Canton Ming Yuen Garden, which appears September, 1930, to approximately ese speaking Hakkas they will also an sub-head 11, to seventy-five feet. 18. in January (the lowest gure replace the interpreters
This will reduce the total estiminte, actually touched was 101d., on 14th falling off. In the first year they will receive $1,200, but it has not yet been possib'e February), it was essential, be then, on their passing the Royal to work out the exact figure. It sides reducing expenditure, to raise Sanitary Instituto examination,
is impossible to avoid making pro- additional revenue. The most im they will proceed by annual inere vision for the many details neces. portant increases were made on ments of $100 to $81,800 per annum, Bary for the properly ordered life the following items-Opium prices, and thence to $3,000 by annual in. Police Stations, Markets, Latrines Februbry, and Postal Rates in of the community la general Liquor and Tobacco duties during crements of $150. Those who prove and, so forth, and I wouki include April. Further alterations themselves worthy will have opportunity of rising to a higher among them the new residence for made in Liquor and Tobacce duties glass with a salary scale of 83,209 the Director, Royal Observatory in September, whilst at the same, to 84,809. Provision is also made whose present combined and very time the import duty on Motor in the draft Estimates for three cramped House and Office makes Spirit was raised from 15 cents to
1,108,872 35,189,217 messengers for serving notices etc., work dificult and life uncomfort. 25 cents per gallon and a new duty as part of the scheme. No reducable.
Anticipated Excess of requirements imposed on Perfumed and Medicat tion has been made in the establish satisfied, no great sum remained ed Spirits of $10 per gallon. The
Assets over Liabilities ments of European Inspectors and available for the larger works to additions imposed in September
at 31/12/30........... $10,810,131 interpreters as nono, of the Asiatic which publia attention is more ensi- were made with a view to the
Expenditure for the year w Inspectors will be qualified until y drawn, and Government had per- balancing of the 1032 budget, but
The revenue estimates For 1033 1034 at the earliest.
force to make a selection. There had to be put in force immediately originally estimated at 331,881,501, have been drawn up on the assump On the retirement of the present are in mind: the Government in order to safeguarding the re including the sum of $1,000,000 from tion that revenue will be maintain
surplus balances being part payed as heretofore. There is no sign Director of Education, Mr. de Civil Hospital, the Mental Hos venue.
Land Sales produced the largement to the Admiralty for the sur-
or portent as yet of any decrease. Martin, he will be succeeded by pital. Kowloon Hospital, the Kow- Mr. N. L. Smith, Cadet Officer, loon Post Office, the Vernacular amount of $3,177,607 against an render of the Naval Arsonal Yazd Should these appear during 1933 it whose appointment to the post has. Normal School for Women, the estimate of $1,500,000, and is almost and Kellet Island. As the Eati will be necessary immediately to been approved by the Secretary of Central British School, to mention up to the record year of 1923 when mates were based on $118, the It is satis Colony's commitments on account State. Provision is made in the the most prominent, and Govern- $3,488,797 was collected. draft Estimates accordingly. There ment has selected the Government factory also to record that the re of sterling transactions were male is an increase of four posts of Civil Hospital, the Central Bri. venue from the Kowloon Canton rially lightened when the dollar rose
continues Kowloon Railway Students in Training. This method tish School and the
increase above la. It was, therefore, decid- ed that further funds could be of obtaining teachers was fully dis- Hospital as the objects on which steadily. cussed in this Council a few years attention should most immediately The expenditure for the year placed at the disposal of the Direc- ago, and it was again examined as
be concentrated. It must not be amounted to $31,100,774 as against tor of Public Works and supple- a result of the Report of the Re- thought that the omission of the an estimate of $20,787,855, an iumentary votes was approved to a trenchment Commission. As point. remaining schemes means that their crease of $1,372,918. The estimates total of 8748,950. ed out in Government's Commen- importance is ignored, and the were based on 81-18, dd., but the tary on that Toport it is not an choice was made only after the most pening rate of the year was 1s. expensive scheme, and the finished anxious consideration of all the old, and the average rate for the product, the University Trained conditions. Perhaps I might refer first nine months of the year was Teacher, is eminently satisfactory particularly to the amission of the just under 19. Expenditure, there It is proposed to appoint next year Kowloon Post Office. The expan- fore, was immediately reduced and to essential services. 8 Kwok Yu taacher in accordance sion of the Colony has made office restricted with the recommendation of the accommodation in Hong Kong very During the last three months of the Committee which examined the cramped; and the development of Year after England's departure from question of the teaching of Chinra Kowloon is not without responsibil- the gold standard the dollar rose, at the University, which has ity for the extra pressure, In any
the average rate for the quarter the time has come
being almost 18. 4d., and Govern direct bearing on the syllabus of case Chinese at Government schools. Kowloon should be provided with ment partially raised the restric
at least branch offices where retion for special services.
DOW
With
these
when
Public Works Department, sidents can do their Government I come
to Public Works business without coming, across the Department on page 03. Under harbour. A comprehensive view of General Staff there is an increase the requirements in this direction of one Executive Engineer, three is called for, and the probability Engineers, ore Inspector of Works that a large building which will
Loan Expenditure.
1932.
to
The revised estimate, of expendi- ture for the year is now placed at $32,087,500 and as things are at pre- sent it is estimated that the budget for 1039 will chew a surplus of $405,174 and that the year will close
pruno axpenditure and reduce com- mitments. The building of a new hospital commits the Colony to 83,000,000 (aa B01 catinated) spread over 3 to 4 years and once so that in the event of a falling started will have to be continued revenue other works must be pur- tailed. The programme of Public Works Extraordinary estimated at a total of $3,067,923 is of a very varied naturo."
Loan Works.
Surplus balances have been drawn' on in anticipation of a future loan with an excess of Assets over
and on 30th June, 1932, the total · Liabilities of $11,812,803 as compar-mount advanced was to under:
the ist ed with $11,347,029 on
Aerodrome (Net-credita January, 1932,
deducted) Vehicular Ferry
1933
Estimated Revenue.
The ustimated revenue for 1833 amounts to 834,002,575, an increase of $11,065 over the estimates for 1932. No additional taxation has been proposed.
The import duty on liquor and
Assessed Taxes
Shing
207,400
012,140
Abercon Water
Scheme 1,070,020
441,323
103,100
24,054
820
3,440,685
Min Valley Beheme, 1st section Shing Mun Valley Scheme Filters Shing Mun Valley Acheme, 2nd section New Gaol at Wong Ma
Kok
Anticipated Expendi- ture during the six months ending 31st December, 1939..... 1,301,454
Total......4,811,039
Revenue for the Year. The revenue for the year was estimated at $33,001,510 and includ and three Overseers. But this in- include an ample Post Office will ed in September, 1931. impos-1 tobacco shows a falling off due to
ed the additional taxation, impos crease is more apparent than read, be necessitated in the near future. for, if to these posts are aided the The conclusion therefore was that The new tax on perfuched spirits, has been estimated for 1933 as cem- to yield $2,100,000 in a full year. the higher rate at which exchange corresponding posts under lonn the Kowlcon Post Office, shoutu Works Staff in Appendix V (C) on wait to take its place with the other medicated spirits and toilet prepared with 1032. The excise duty on locally manufactured liquor is page 116, and the totals so obtained requirements of the Peninsula-re found to act inequitably, and on the however, estimated at rather more
parations of $10 per gallon was compared with the totals in 1032, quirements which are also urgent 17th March the duty was altered, than in 1932 as the import duty. it will be found that the number but which perhaps get rather less the object being to of Executive Engineers, Architects, than their proper share of public duty on medicated spirit by the trade. The Opium Monopoly siews assess the affords a slight preference to this and Inspectors of Works is the attention. same, whilst that of Overseers is
alcoholic content and not as hereto (rates; and Water Excess Supply As the actual expenditure from
a large decline. reduced by one. When Your Ex-2
fore as though the contents were and Meter Rents are growing year. surplus balances at 31/12/31 was cellency introduced the Budget lastly detailed in the memo by th
The loan works proposed are fuj-| 100 per cent." "alcohol,
ly. The estimated receipts from.the 83,484,014 the additional, sum re- year, you stated that though the Director of Public Works and I
year amounts to Entertainment Tax have been re- quired this The Betting Ordinance. amount provided under Pullia
duced for 1933 having been over- 81,397,025 and the liquid resources Works Extraordinary was not the have only to add that should fur- The Betting Duty Ordinance was estimated in 1932. Post Office ro-
of the Colony should be able to sole factor which decided the gire ther funds for the new Waterworks passed on 18th December, 1831. geipts both an account of Postage
stand this without borrowing. of the staff of the Public Works be required the Government will This provides for a duty of 3 per and Radio Message Fees were ever- Department, it was an important not hesitate to come to this Chun. cent. on the takings of totalizators estimated for 1933, the anticipated It is this factor which has cil and ask for them. Everything or pari-mutuels and a duty of 5 revenue from the increased postal led to the increase in the number possible has been done to impress per cent. on cash sweep tickets. rates not having materialised and of officors shewn under the on the Consulting Engineers the The estimates for 1939 included there has also been a large decline department, and to a decrease in necessity for expedition; and the sum of 8260,000 as the receipts from in the number of parcels despatch the number shown under Loan Government is satisfied that they this source but it is hoped that ed. The passenger service of the Works: The approved Estimate for are fully awake to the situation, over $300,000 will be taken. The Railway continues to grow owing to Public Works Extraordinary for and will make a beginning in time above measures were brought in to the speeding up of the time to Can- 1932 was #2,173,545 and for Loan to ensure that the opportunities increase the revenue of 1932.
ton due to the, now Superheated The Inland Postage rate of China Locomotives. Land Sales are fall- Works 81,882,780. For 1933 the afforded by the coming dry weather. figures are $2,067,923 and 81,309,308 are not wasted. At the next meet was increased by the Nanking ing off and the estimated receipts (exclusive of payments to the Con- ing of Council, it is proposed to Government this year from 4 cents for 1933 are placed at the same sulting Engineers). It will thus put forward a number of resoluto 5 cents per az, and this Colony figure as the revised estimate for be seen that actually so far as extions in connection with the Loan in consequence increased its postage 1032. traordinary works are concerned Expenditure for 1038.
rates to China to 3 cents per ez. whether paid but of current re-
That, Sir, concludes my remarks as from 13th, Juno, 1932.
Expenditure in 1933. venue or out of loan, the estimated the Budget for 1033. Hong The total revenue for the half Expenditure is estimated in 1833 expenditure next your is approxi. Kong has so far perhaps fared year ending 30th June amounted at a total of $35,190,247, as under: mately 25 per cent. more than the rather better than the rest of the to 818,013,940. This is $81,815 less
Ordinary expenditure...831,031,324 approved expenditure for the car world during the last two years than ong half of the cetimate of
Extraordinary expondi- rent your. The part of this, sum and it has been found possible to 233,901,510 for the whole year. The ture ........ that will prove to be required dur make an estimate for the coming revised estimate for 1932 has been ing 1933 will tax to the utmost the year which is very much on the placed at $33,162,874 for $638,830 capacities of the staff of the Pub-standard of preceding years, and less than the original estimate lie Works Department
which will keep us abreast of the times and ready to take advantage
The Special Staff shewn on page: 95 under Public Works Department of the recovery that is so confident-
Bources of Revenue,
3,467,093
$34,009,247
Special
expendituro from surplus bal-
ances
500,000 The principal sources of revenue is in connection with the proposedly predicted. But no undue risks are shown in the following table:T
$25,199,217 new Crown Innses Ordinance, which have been incurred, and I hope
Total: has already been drafted and been that Hon Members will be able
Estimato 1st and for purposes of conversion the referred to the Law Society, Brief to agree that this Budget, rather
1092 Hult Year dollar has been taken at a sterling ly the object of this Bill may be colourless though it may be, has Import Duty
value of a. 2d. throughout, The described as "one house one lease succcafully found the proper. on Liquor $1,340,000 It will facilitate dealings in pro
$598,000 following is a summary of the esti middle course,
Import Duty *
mated Revenue and Expenditure for perty, as there will not be tlie I now beg to move the first read- an Tobacco
4,800,000 2,024,474 1933:-- danger, as there is at present, of ing of the bill.
Duty on Local
ly Manufac.
the Crown re-entering a lot because Hon Mr. Taylor seconded and of default-in-payment of Crown the Bill was read a first timetured Liquor 1,000,000
The Council then adjourned un-Port and Har Rent by a remaining portion owner, owing to his inability to til Thursday, October
collect the proportionate sharce
FINANCE COMMITTEE.
Ordinary 022,630 Land Sale
'bour Duos.. 703,000 405,170 Liquor
-Licences 400,000 250,874
from the section holders The new, policy will involve increases of staff A Mesting of the Finance, Com. Opium also in the Land Office and the mittee followed the Legislative Mauopoly 3,000,000 1,281,008 Survey Office. The Treasury, also Council meeting at which voter Assessce Taxes will have serious additions to the totalling 841,283 were approved. (Rate) 6,200,000 2,000, 800 routine work of the ofice, but it Particulars of theso, voten appear.Estate Duty........ 700,000 is hoped to meat this call by the ed in the Daily Prem yesterday. Stamp Duties 2,800,000
185,624, 1,322,000
Ordinary
BEYENUL
Schedule
Three New Items. Three new items appeared in the
(a) The Shing Mum Valley Scheme
(2nd section)-Gorge Dam estimated at $9,200,000. The expenditure on this work dur ing 1939 is estimated at op- proximately $75,000.
(b) Tytam Tuk Catchwaters esti- mated at 8000,000 spread over two years of which $300,000 is anticipated to be spent in 1933, Approval is required be- fore this kan be proceeded with.
(c) Shing Mun Valley Scheme (ind Section). Preliminary Works-although new to the Schedule has previously been charged against 1st Section aid was shown as such in Ap pendix VIL (A) of the 1932 | Estimates. It is considered that this has accordingly been done and formal approval will be asked." The anticipated cost of loan works during 1933 is shown as 82,834,338, the largest item being 81,525,000 on account of the Gorge Dam. This figure has been supplied by the Consulting Engineers, ́end its expenditure entirely depends on the progress of the work. Experi- Ence how shown that tho toilet $32,702,575
mated early expenditure for loan 1,300,000 works in the past has greatly ex
ceeded "actual" cash requirements and unless 1033 is to be an excep tion the amount of $2,834,308 vill be in excess of actual payments, $2,400,000 in, therefore, being allow ed by the Treasury: The question. of financing tipese loan works is receiving very careful consideration but at the moment no Announce-
ment can be made."
@34,002,576
,031,324 2,087,023
1,099,247
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