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ture on public works furnishing in Hong Kong any measure of the real available surplus, I think without such expenditure there would have been no surplus, and good government--the condition upon which the increase in the population rests-would have been impossible.
8. Taking then the present and probable future revenue of the colony for some little time at 105,000l. I find that the fixed ordinary expenditure, without the outlay of one shilling upon public works, amounts at present to 85,0001. In May last when the Estimates for 1863 were under consideration the ordinary expenditure was put down at 82,5001. Since then there have been some additions to gaols, and other establishments which will make the actual ordinary expenditure as approved by the Secretary of State not less than the sum I have named of 85,0007., and this leaves but an annual surplus of permanent revenue over ordinary expenditure of 20,000l., a sum, in my opinion, barely sufficient, without the commencement of a new public work of any description, to maintain the existing ones in serviceable repair. This will be readidy understood by any one acquainted with the peculiarities of Hong Kong and the extent of the public works. In no place that I know of do buildings require such constant repair and become so soon ruinous if neglected. The town is situated within the Tropics and is built on the face of a steep mountain at an angle of about 40 degrees. It has a sea wall and road extending along its face for nearly 4 miles. No human foresight or precaution can guard against the casualties which under such conditions accompany typhoons and mountain torrents. I have known 7 inches of rain fall in a night, bringing down floods and rocks from the mountain overhead which destroyed main drains and culverts, converted the principal thoroughfares into impassable ravines, and otherwise did. damage estimated at 5,0001.
9. There remains, therefore, to be considered with respect to the ability of the colony to meet the contribution demanded of it, only the balance in hand, which, it is estimated in your despatch, will be on the 31st December next 90,0001.
10. In the financial estimate for this year, which will be found on the first page of the Estimates for 1863, it will be seen that I estimated the excess of assets over liabilities at the close of the year at 75,000l. I think this sum should rather be reduced than increased. I am aware that excess of assets over liabilities at the commencement of the present year was 16,0007. in excess of my estimate, but this was caused almost altogether by the unexpected produce of the last land sales in 1862, and by arrears of superannuation contribution not calculated on, and this excess will be covered by the corresponding abatement to which I have already referred in the probable revenue of the present year.
The estimate as corrected by subsequent experience stands thus :-
Excess of assets over liabilities on 1st January 1863 Probable revenue, 1863
£
98,000
105,000
203,000
Ordinary
Public works
Expenditure, 1863.
£
85,000
45,000
130,000
73,000
Probable excess of assets on 1st January 1864
11. From revenue I have deducted 15,000l. for premiums and added 2,0001. to postages. To ordinary expenditure I have added 2,500l. as explained before, and to public works 2,500l. to cover the cost of purchasing and fitting out a convict hulk not estimated for. If the result is found to differ much in the
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