247
follows.
$10,000 more than what and the one was Estimated, with respect to which I allude £90,658
1861- $435,158.
£101,801
1862- $488,647 fully explains the falling off from the £118,726.
1863- $569,885 preceding year.
For the difficulties about Kowloon not having yet been arranged,
5. It may be said that the ground there was little land to be brought into the market, and the Estimated Premium on land sold being $72,000, only £15,000 $6,490 of this was realized; against £1.35 $142,612 realized in the year 1862. £29,710
4. As a further and conclusive proof of the Satisfactory State of the General Revenue, I may point out that putting aside this item of Premium, what I call the ordinary or permanent Expenditure,
6. In the Causeway Bay might have been put forward for Sale, but with the district of Bowrington (nearer the Centres of business) sold and still unbuilt over, this would not have been a prudent measure, and subsequent events (not belonging to 1863) have justified the delay in disposing of it.
Expenditure, there is a slight decrease as may Revenue for the 3 past years stands as compared with the previous year, less being spent on Public Works.