472
I have
The Hong Kong
(17558)
I have no doubt it is desirable
that the entire transactions of the Colony should, if possible,
be shown in one present account. But the present
return, while including something more than the day revenue &
expenditure of the Colony, does not go far
enough. It should be including the opening & closing balances, and distinguishing between
ordinary & Extraordinary receipts & payouts, and between the receipts from, the expenditure of loans, whether from
the "Special Fund" or other sources, and the rest of the Revenue & Expenditure, and
of course separating matters of account as Sir J. Henry.
So
If I remember rightly (I write at a
distance) both the Straits Settlement and
Mauritius have very good forms for such
returns. In this latter case
The receipt & expenditure of debenture loans does
not appear.
I may illustrate the danger of
these present returns
by pointing out that part of the expenditure is included twice over without any distinction
being made, viz. The sum which is repaid
to the "Special Fund" from
general revenue
The account for
this purpose having commenced before the work was completed. If proper distinction be preserved between
ordinary & extraordinary revenue &
expenditure, and the account be
balanced, there is little danger of misapprehension.
22 May 1885
W. 15 now. No 2014