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.'xigns' 10 at11079 siij
ylaubenejIumie od yam outlineque brtc sunevad ONT
evijanzeil
barit
finition
Ordinary reņue & benditure.
به امینی
The assessment of a fixed percentage on Gross
Revenue induces a tendency to decentralise by eliminating
Municipal revenue (as I believe is done in Singapore) and
晨 similar Revenue and expenditure by cóporate bodies under
Government control from the Colonial Revenue subject to the
percentage, and to bring to account in the Colonial Budget
the net revenue only of all such subsidiary accounts. The
items which appear on both sides of the account do not
indicate increased wealth, and increase of Revenue from
such causes, though increasing the percentage payable to
the Defence fund, is no measure of the financial prosperity
of the Colony.
The financial prosperity is more accurately represented by the Margin which remains when the Ordinary
Expenditure is deducted from the Ordinary Revenue. If the
as Mr. Chamberlain desired the Military Contribution is to
bear a constant relation to the Financial prosperity or decline, it should be a fixed proportion of the 'Margin' and
not of the Gross Revenue.
(1) Loans. tes
The point at once presents itself what is to be treated as 'Ordinary' Revenue and Ordinary' Expenditure, and
how more especially are Loan Accounts to be treated? What
for instance, is to prevent a Colony from balancing its
ordinary revenues and expenditure so that little or no
Margin
paoloo gniwora a ol beasokoni pidainavni ens bds,beaseront
djieɛw ji aaneroad y'Isabeõel ya Juoddiw xse, of 18oy mor
.'nig*w*' Bind to golanoqxe no
*
beaseroob sɗ Jomro atzeadelidadas Jneriszroq sIT
ədj ni ɑnoljøudovít end of gatinooos Iliw is besaenont 10 08 (rsey of usey moti ymolcü arid to ydinoqanq Infomsnit end VIIaoljosnq,nismen noitsijalnimba to aesnaque sij janj
enkloeb yam euroved end down tavevoɗ oms B
It has lately been reported in the Press that this principle is to be extended in the coming year, by trans -- ferring all expenditure on Education to Municipalities, to be covered by an 'Educational Rate' not liable to Military Contribution.
ÖNT
16