the exception of land sales and the
premia based on
on leases, would appear to be
that of the contribution to be paid by Singapore,
which is also
17/2 for cont. Permit us, however, to
point out a
1
fact, which
may have
escaped
the notice
of
the Secretary of
of
state, namely that the revennes
the hoo Colonies are on a somewhat
different basis, for Singapore has a Municipal Council, and so a distinct municipal revenue, which is exempted from the l
Military Contribution, while Hong long the figures of the muni= cipal and of
are shown
clear to us
the rest of the reserve together.
10. It does not appear from the Secretary of State's despatches whether he recognises the existence of this difference, as he seems to include the municipal revenue e of Houghong in the aurouunt on which the 17/2 per cent has to be paid. Against
1 protest,
this we must
and we would
(
369
beg to lay before him some most im portant considerations against such proceeding.
We consider that the muni
cipal revenue of stong Kong should be treated on the same
that of Singapore,
the
A
footing
more 20,
be
faut mumi :
cause most of the important
cipal works of Hong Kong have been
means of
paid for by
loans. From
many of them we derive a consi- derable revenue, out of which we have to find the interest on the loans and
· provide a sinking fund; and it seruus hardly
hardly reasonable to ask us
at the same time to do this and also
for
to be paying of the Military Contribution 171/2 fir
r cant
of
2. If
these revenues.
objected that
the municipal
be
may
if
the amount
revenue, say
of $700,000,
be subhacked.
from the total estimated revenue of
the Colony,
the Military
Contribution.
beg.
would