739
exceed the revised estimate for 1904 by $268,191.
The estimated Ordinary Revenue for 1905
exceeds the estimated Ordinary Expenditure by $1,338,719.
Land sales are expected to realise $500,000 and Public Works
Extraordinary are estimated at $1,815,300 leaving an estimated
surplus of $23,419.
13.
The Estimate of Revenue for next year is
not, I believe, unduly optimistic. The only item,
showing a
large increase, which calls for special notice is that for
Crown Rent in the New Territory. I propose to make a consider-
able increase in these rents when issuing titles to the land
and I shall address you at a later date on the subject.
14.
The financial position especially in view
of the large unavoidable expenditure on Public Works Extraordi-
nary that is provided for might therefore be considered as
extremely satisfactory, were it not that it is very doubtful
whether the revenue derived from the Opium Monopoly will be
realised.
After the Estimates had been completed
and 2 days before they were laid before the Council with the
Appropriation Bill, the Opium Farmer made an application for
a substantial reduction, which he hinted might be placed at
$840,000 per annum, in the fee which he has contracted to pay
the Government for 3 years from the 1st of March last.
I immediately directed the Colonial
Secretary and Registrar-General to enquire into the matter, and I caused the Unofficial Members of Council to be informed
confidentially before the Appropriation Bill was read a second time that such application had been made and that if after
enquiry
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