The expenditure for the same period increased by £6,281.9.0 being in 1860 £72,390.1/2.10 and in 1859 £66,109.3.9.
The increase in the revenue is shown under each of the three main sources of income: Land, Licences, and Taxes, and also under the head of Post Office, an item which exceeds that of 1859 by nearly £17,000, in consequence of the great rise in the value of land and the large premiums realized at the Government land sales.
The increase under the head of Licences and Taxes, which latter are limited to Police and Lighting rates, is partly due to the transfer of Post Office expenditure to the local Government accounts, which appears for the first time.
The largest increase is under the head of land revenue, attributable to the growth of the town. The revenue of Hong Kong in 1860 is not only the largest ever raised in the colony since its establishment on the 1st May 1850 but, without additional taxation, is four times greater than that...