ان
Enclosure 3.
RECK
40125583
Reces of 18th to 2103
Extract from Hong Kong Laily
Laily Press
Sept. 190s....
The COLONIAL SECRETARY also laid on the table two meworanda dealing with the Estimates. be said--Sir, These two momo- randa added to the Estimates themselves will, I hope, furnish full information to hou. members of the various changes in the Estimates as compared with the Estimates for the current year. Should any further explanation be required I shall be happy to do my best to furnish it when wo reach the Committee stage. In the meantime, sir, I may be permitted to refer to some of the more salient features of these Estimates. The revised estimate of ordinary revenue for the current year exceeds the original estimate of ordinary revenue by $254.478. The correspond. ing estimates for land sales are the same. It will be remembered that at the time the Estim- ates for the current year were introduced several Ordinances were also introduced increasing various licenses and dues, which it was not possible to include in the Estimates. The increase, therefore, is due to the increased fees and duties (principally on spirit licences and stamps) legislated for at the time the Estimates were introduced last year, but not included in the Estimates The revised estimate of ordinary expenditure for the current year exceeds the original estimate by $112,421 The revised estimate of expenditure on Public Work Extraordinary, however, is less by $169,340 than the original estimate. The total saving on the original estimate of expenditure is therefore $49,919. The original estimates for 1903 showed a deficit of $712,306. The revised estimates show one of $407,909, but, with savings from previous years and arrears. the balance of liabilities on 31st December I will be only $281,039. The estimated ordinary revenue for 1904 exceeds the revised estimate for 1:03 by $1,370,535 made up generally ax follows Opinn Farm $1,225,000; assessed 1ax, $96,000; spirit licences, $28,000; postage. $2000; land rerean, $6,000; a few de- creases of small amounts accounting for the difference. The estimated ordinary expendi- ture exceeds the estimate for 1903 by $543,447 usde up as follows:-Stipulated increments and increases of salaries, $30,329.89; new posts, $41,956; exchange compensation, $2,011.60; fall in exchange, $9,390.38; conversion of dollar salaries to sterling salaries, $12,701.60; allowances, 88.011.75; other items. $2,988: other charges, $21,41855; pensions, $1,600; miscellaneous services, $27.035, military ex- penditure contribution to Imperial Govern- ment. $375,898; Public Works recurrent, $59,200 total $543.447.77. The estimated ordinary revenue exceeds the estimated ordinary expenditure by $950,358. The estimate of Public Works extraordinary for 1904 is $1,273,400 while land sales are ex- peated to realise $400.000, leaving a difference of $878,400; there is therefore an estimated surplus of $76,959. The estimate of revenue for 194 is however a cautious oue, and it must be remembered that the increased revenue for the Opium Farm does not begin till the 1st March next, so that in 1905 there will be a further increase from this source represented by two months' fees from it. If due regard be had to economy in expenditure, it may be expected that the debit balance of $281,639, with which we shall begin the year 1904, will be wiped off by the expansion of revenue, at any rate early in 1905 if not before.