98
for general purposes in the form of increased licences and
fees &c., it is anticipated that in the coming year the
gross Expenditure (in which only essential and continuing
Public Works have been included) would exceed the gross
Revenue by a sum of over $480,000 were it not for the
fortuitous asset of $412,300 from the Widows' and Orphans'
Pension Fund which has been taken over by Government and
which should in fact be regarded as equivalent to a Loan
since the Pensions which are in part to be defrayed from
the interest which should accrue from it will in future
years be chargeable to Revenue. These figures include no
provision for compensation to the Opium Farmer or Divan-
-keepers for closing Divans, for which without special
taxation I am wholly unable to provide, and looking to the
fact that the Colony has not yet emerged from the period of
extreme trade depression which has borne so heavily upon it
for the last year or two, and that heavy private losses
have been incurred by the recent disastrous typhoon before
the damage done by that of 1906 had been fully repaired, I
feel that the moment is inopportune
with a deficit of
nearly half a million dollars this year and next - for
imposing new taxation to meet a new charge additional to
that deficit.
10.