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cost the Imperial Exchequer no less a sum than 273,0001. for its civil establish- ment, exclusive of any sum spent during that period on account of the military and naval protection of the colony. This very large expense to the Mother Country even if the colonial revenues were in a far less flourishing condition than they are at present, would of itself be sufficient to impose on the colony the obligation of a substantial contribution from local funds towards the cost of the military defence of local interests. From the official documents in this department it has also been ascertained that the colony became self-supporting, so far as its civil establishments were concerned, in 1859, and that Imperial aid was then withdrawn. It also appears that in that year 15,000l. was expended on public works, roads, &c. The revenue and expenditure for the three follow- ing years have been as follows:-
-
Expenditure.
1860
1861
1862
Revenue.
£
£
94,182
72,390
127,241
109,632
131,512
122,423
and the estimated revenue and expenditure for
1863
Revenue.
£ 118,512
Expenditure.
£ 125,000
>
7. From these figures it will be seen that the average surplus revenue over expenditure during 1860-2 was more than 15,000l. per annum, and during that period the large sum of 106,465l. has been expended on public works, in which are included repairs to roads, streets, and bridges. I am also to observe that in the Estimates of 1863, a sum of 42,2001. has been set aside for objects of that nature.
8. The Duke of Newcastle has directed me to bring to your notice these charges on account of public works because, although there is no better way of disposing of surplus revenue than on works of public utility, the amount of that expenditure is in a great degree regulated by the amount of surplus revenue of which it in some degree thus furnishes a measure. I am also to remark that the amount of assets over liabilities on the 31st December last was 98,5491., and that even after the large expenditure for 1863 (supposing the estimate to be correct), the assets will be on the 31st December next 90,0007.
9. Looking to the large additions which have been made within the last three years to the several departments, amongst which are included the post office, the judicial establishment, and the police department, His Grace antici- pates that no further additions can possibly be necessary at present, and that the existing establishments will be able to bear the work required of them for some time to come, or at any rate that increased expenditure will only be called for by increased prosperity, which will furnish the means of meeting it.
10. I am to add that the Duke of Newcastle has not lost sight of the state- ment, contained in your despatch transmitting the half-yearly returns of land sales to the 30th June last, that all the available sites for building within reasonable distance of Victoria had been disposed of. For this reason it may be expected that for the future there will be a falling off in the land revenue, under the head of land sales, as compared with former years, until the question connected with the acquisition of Kowloon has been finally disposed of, and the local government has thus been enabled to put up lots for public competition. But the probable falling off in the land revenue does not affect the fact that the general financial position of Hong Kong is, and is likely to remain, in a highly sound and prosperous state, and the actual revenue having been in 1862 41,000l. above the amount estimated for that year, while in 1863 the estimated
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