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In addition to the Establishment of an Assistant Assayor and an Assistant Melter have already been submitted for approval in my Despatch No. 62 of 12th June last. The necessity for the new reservoir at Pokfulam is being explained in my Despatch No. 104 of this date, and the Reports and Estimates for the extension of the Sanatorium at Newtown and paving streets in Taipingshan will shortly be transmitted. The Carriage Road above the Race Course was sanctioned with the Estimates of 1864, but the work has not yet been carried out. The half cost of the Gunboat I have more particularly alluded to in my Despatch No. 105 of this date.
8. According to the Financial Estimate for 1869 on page 5 of the Estimates, Your Lordship will remark that at the end of the year the probable excess of Assets over Liabilities will be reduced to something under £70,000 with a further reduction for the cost of the Stamp Office to about £60,000, the lowest point to which it will be safe to reduce it, but as during future years the receipts from Stamps will be for 12 months instead of 9, there is every reason to anticipate that the Revenue as now arranged will be quite equal to meet the Expenditure.
9. I trust with these explanations Your Lordship will be able to submit the Ordinance for Her Majesty's approval.