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I observed however that I thought the revenue could bear this charge I base this view on the following facts. We estimated last year for a deficit of $298,937 (to be charged to surpluses on account of Typhoon Refuge) whereas we realised a surplus of $420,054 a gain of over seven lakhs. This gain is accounted for by the following items:-
Excesses on
Various revenue heads.
Savings on expenditure on
76,000
establishments.
52,000
Imperial Contribution.
134,000
Land Sales.
170,000
Stores credit.
288,000
$720,000
Our heavy liabilities are (a) the Typhoon Refuge which will be spread over a further period of four years and has
an annual sum of (say) $95,000 from Light Dues, and the large surplus and is not therefore a charge against Revenue. (b) The Tytam Tuk Reservoir which will not require more than about 3 lakhs a year. (c) The Western Market, the new Magistracy and
perhaps a Wireless Station. On the other hand the Law Courts
and Government Offices, are off our hands already, and the
completion of Castle Peak to Sha-tau-kok Road is provided for
in this year's estimates and we may reasonably look for a satis-
factory financial year, in view of the large surplus and con-
servative estimates in 1912.
I therefore recommend the present vote to the Council
and in doing so I also recommend proposal B, if the Secretary
of State agrees, since it is urged by the two Unofficial
gentlemen who at great expenditure of private time and thought
have fully gone into the whole question, and is also recommended
by the Director of Public Works.
sd.
F. D. Lugard
13th. March, 1912.