If this large excess
Revenue is realised during this
the Govr says (in 28080 28797) that it will more than suffice to meet the total Expenditure during the
year including the Expenditure on the new Territory. See
Encl
Savings of about $200,000 were effected by postponing new Public Works. The total Expenditure on the new Territory up to the end of this year will, according to the last-mentioned Despatch, be rather under $250,000; but the Govr has omitted the Special Expenditure incurred by the occupation of Sham-Chun, which in June last might be put down at $90,000 - a sum that since that period must have risen considerably. I suppose the Govr expects that this Expenditure will be recovered from Imperial Funds, but that point is not yet settled.
If
the Receipts for 1899 have been as good as are here shown, I cannot understand why the Overdraft at the bank at the end of August last was over $1,000,000, & we should ask for explanations on this point. (This is explained in 31434)
(see 27 The Surplus, and that!)
The Revenue for 1900 is estimated at $3,325,479 and is $220,000 less than the sanguine Estimate in 20069.
Rent from
the new
Land Rent given
Territory is prudently put
at $100,000 instead of $150,000; and the Land Sales in the whole Colony at $250,000 instead of $300,000, as given in 20069: but considering the large Sales effected this year, I rather doubt whether as much as $250,000 will be realised next year.
Some of the ant[icipated] Increases of Revenue are explained in incl: 2: but we should ask for particulars as to the new Arms Ordinance from which the Arms Licenses are expected to grow fifty-fold.
Surely this is exaggeration/estimate!
Also ask as to the increases in Carriage Licenses & Stamps which are not explained: and as to why they anticipate an increase of Receipts notwithstanding the fact that they originally estimated that Penny Postage would involve a loss.
The Expenditure is estimated at $105,000 less than the Revenue: I think therefore that we cannot press for any additional Taxation at present. (see 20069)
Govr's Memorandum Draft on the whole subject, referring to various details of Expenditure.
8/22
[See also 28080 8314347]
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