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Perociation Bill for 1879 was rea
first time.
2.
I enclose a wront of the proceedings
the Council
on this occasion.
Bservations
reserve any
that may
be necesary
to make on
the subject until the ordinance
has been finally
Council.
asproven by the
I have the hour to be.
Sir,
Your Smost Fordient
tumble Sewant,
Melhemery.
The Daily Press.
HONGKONG, NOVEMBER 12TH, 1878.
A meeting of the Legislative Council was hold yesterday afternoon. There were present :---
HIS EXCELLENCY THE GOVERNOR. Hon. F. SNOWDEN, Acting Chief Justice. Hon. C. MAY, Acting Colonial Secretary. Hon. G. PHILLIPPO, Attorney General. Hon. P. RYKIE.
Hon. W. KESWICK.
Hon. H. LoWCOCK.
Hon. T. C. HAYLLAR, Q.C.
THE ESTIMATES.
His EXCELLENCY-Gentlemen, I occupied so much of your time recently in a financial state. ment that in laying before you to-day the esti- mates for 1879 I will confine myself to merely telling you the Treasurers ostinate of the ex penditure and revenue, with perhaps one or two romarks. My hon, friend Mr. Price is unfortunately not here to-day owing to illness, but I hold in my hand the estimate of revenuo, which amounts to $998,636. That estimate is exclusive of a sum of about we will say $6,000, which we will obtain under Ordinance 10 of 1867, but which is no longer included under the head of general revenus but will be used for the purposes of that Act. If that sum had been included, as in former years, our estimate of revenue would be over $1,000,000. I have further to tell yon Mr. Price vory properly estimated the revenue from the opium farm at $132,000, the sum received for it in 1878, whereas you are doubtless aware we will actually receive, I hope, a considerably larger sum for the opium farin in 1879. I am not at this moment quite in 3 position to say what inereASO is anticipated. but I am certain, from the offers sent in, we will receive a larger sum than the sum received this year; but in preparing this estimate Mr. Price very properly places the opium farm simply at the present figure. Then there is put down a sun of 826,500 for the spirit revenue, and you are also aware it is extremely likely wo shall receive a good deal more than that if, with your consent, I establish a spirit farm. So far for the revenue. The ex- penditure is estimated at $932,286; in other words, you will see our rovenne is in excess of the expenditure. You will have all the details before you when the estimates are printed, and then at the next meeting we can enter fully into discussion on the various details. On this oc- casion, simply reading the hill a first time. I suppose we will have no discussion, though on my part I shall offer no objection to any discus- sion any member may choose to originate. But at the present time I may say our revenue
is in excess of our expenditure, and considerably in excess for next year, so that in considering the estimates in detail you will bear in mind what I said on the last occasion, that it may be possible for us to do something in the way of remission of taxation, and ou that I wish you to consider before the next meeting two questions. First, I would put before you the question who- ther we might not remove the licence on native junks. The revenue from that source is $20,000. The next question will be the re- duction of our house tax. You are, of course, aware that any reduction of the house tax would be really made by the Governor in Exe- entive Council, that is, it will be my duty next month to fix the rate for next year. At present it is twelve per cent. I hope to be able to reduce it, but whatever is fixed I would like to have your approval. As to the licence on junks, that is in a different position. If we sweep away the licence we shall have to sweepaway those portions of the Ordinance imposing the licence on janks. and having done that if not likely it would be reimposed. On the other hand, if we reduce the house tax and in years to come any do. ciency occurs, which I hope may not be the caso, the tax can be increased if necessary by the Governor in Exeentive Council. Therefore it will be for you to consider and inform me what course you think ought to be taken with regard to these two items. It is possible also your experience way suggest some other items. However that may be, the estimates I hold in my band will be printed and distributed, and then we shall have an opportunity of going more fully with them. I should like to meet again this wook if convenient.
Hon. P. KYRI£-I suppose we shall have the printed forms some days before the second read- ing
His EXCELLENCY-I will undertake to have them in the hands of hon. members three days before the second reading, or we can postpone the meeting if you like.
Hon. W. KESWICK-Seven days is the usual time.
His EXCELLENCY-Well, we can have seven days. Practically nearly all the items appear. ing on these papers have been before you in Finance Committee, and so far, therefore, I ought on this occasion to thank you very much for the great pains you have given from time to time in the Finance Committeo in framing these estimates, because that is what it comes to. I have not myself made a single alteration in any vote passed by the Committee. I may tell you there was one vote--one or two votes, about which I was in a little doubt. I thought perhaps the Finance Committee were a little generous but I thought it botter to yield my views to those of the Cóm- mitteo, and I have allowed the Treasurer to em- body in the estimates every proposal of the Finance Committee.
The Ordinance was read a first time.