ES
DESPATCH.
C.3.0.
255 et 1683.
2.80.
1665 of 1885,
0.8.0.
1795 of 1885.
C.8.0.
2400 of 1883.
€.5.0.
C'olonial Defences.
(10.) For cost of 7,680 rounds of Ammunition for the Nordenfeldt Gun on board
the Charles May,
£378.16.119 @ 3/8=$ 2,066.44
(11.) For fitting Nordenfeldt Guns into the boats of the Hongkong Auxiliary
Flotilla Corps,
£165.5.0 @ 3/6 $ 48
(12.) For making 3 Trollies for the conveyance of Nordenfeldt Guns from Steam-
launches to store,
.$ 120.00l
415.28
rovernor.
No.
(13.) For fitting machine gun to Police Steam-launch, No. 2, £72.0.6 @ 3/53=$
harsh 25
2100 of 1887.
(14.) For flags supplied by the Naval Yard, for the Auxiliary Flotilla, £8.0.6
@ 8/53=$
Date.
46.27
.$ 9,695.84
1886 Jau 25
Last previous Paper.
0.8.0. 2309 of 1886.
(16.) For building of a retaining wall to prevent landslip at the rear of Inland
Lot 696, East of the Government Civil Hospital,
$ 945.00
6.8.0. 1874 of 1868.
C.S.O.
1725 of 1985.
.8.0.
2088 of 1885.
C.8 0.
2600 of 1885.
CS.O.
1993 of 1983.
EXTRAORDINARY WORKS.
(15.) For repairs to damages caused by the Rainstorms of the 8th and 12th
June, 1885, .
(17.) For resumption by the Crown of Marine Lots 192, 280, and Sections 4 and
B of Lot 193, in connexion with the proposed New Central Market, ...$37.000.00
Resolved that these Votes be approved.
Read the papers in connexion with an application from the Student Apothecary at the Government Civil Hospital for an increase to his salary.
The Acting Colonial Secretary explains that it has been decided to revert to the old scheme, and arrangements are being made to employ another Student Apothecary.
Resolved that, under the circumstances, the increase be not granted.
Read a Confidential Memorandum by the Governor covering a Confidential Report by the Commanding Royal Engineer of the progress of the works in connexion with the Defences of the Colony, and inviting all the Members of the Legislative Council to accompany His Exed lency, the Major-General Commanding, and the Commanding Royal Engineer, to inspect the works at 3 P.M., to-morrow.
The Committee then consider the Loan Bill.
It is proposed by the Honourable the Chief Justice, and seconded by the Honourable P. RYRIE, that, considering the present unsettled value of silver, and more especially the steady depreciation of it which has taken place during the last twenty-five years, it is highly danger ous and inexpedient for this silver-using Colony to contract any debt re-payable in gold, in connexion with which, judging from the experience of the past, a heavy loss in exchange is į almost sure to be sustained.
That instead of adopting such a course, it is desirable that the Government raise money for its requirements by issuing, from time to time, from the Treasury in Hongkong, Deben- tures bearing interest at the annual rate of five per cent., thus avoiding costs and commissions of every kind, as well as the risk of loss on exchange.
That the raising of a loan in Hongkong, besides being free from all the expenses conuected with the issue of debentures or stock at home, except for printing and stationery, will add to the Revenue of the Colony in Stamp Duty and in other ways, and moreover the Government will be in a position, from time to time, to redeem its own debentures in any number, and to fix a much shorter period for the ultimate redemption of the loan thaa would be possible under the proposed Ordinance. The charge for interest will also be minimised, as the Debentures will be issued only as funds may be required.
The Committee therefore resolve that it is undesirable to proceed further with the Loan Bill in its present shape.
The Committee adjourn sine die.
Read and confirmed this 25th day of November, 1885.
FREDERICK STEWART,
Chairman.
Ava
10.4 Mar
Hongkong
No 3432
(Subject.)
RE
0452 24
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bertain alterations rapple in
megistrary
Requests sauction for
Out. Seade
?
(Minutes.)
Apserve these afforit. ment which involve no of expenditure, Apparently for
hicle ase
bet are
التعليم معلم
and
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at ones
ARATIOON SEri,
Clerk of Councils.
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