1io. 466.
Hongkong.
Government House,
C. O.
46500
Hongkong, 24th. October, 1902.
142
Gov
sir,
48587
Loure &
I have addressed you separately in Despatch
No. 465 of this date on the subject of the Estimates generally,
and you will have observed from my statement to the Legisla-
tive Council that I propose to ask your authority for the
issue of a Loan of $2,250,000 to cover the Public Works Ex-
traordinary in the attached list, all of which will be re-
munerative.
G
33303
2. The deficit is considerably larger than
was anticipated in the report of the Committee forwarded in
Sir William Gascoigne's Despatch No. 302 of the 10th. July
last and I enclose a minute by the Colonial Secretary and the
Treasurer explaining the discrepancies in their Estimate of
closure).
1907
of 8th Dctober poz. losure 2. the September,
8/07
ilm
Expenditure. I also forward extract from a minute by the
Colonial Secretary shewing how additions might be made to the
previous proposals for raising revenue. These proposals received
my approval and I have already given effect to them.
3.
Assuming that your authority be given, the
question remains whether the Loan should be a Silver or a
Gold Lean. On this point I consulted my Executive Council
a large majority of whom were in favour of a Gold Loan, a view
Chi of
in which personally I share. I consulted also Mr. Saith the
THE RIGHT HONOURABLE
JOSEPH CHAMBERLAIN, M.P.,
Ecc...
&C..