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In the early part of the year difliculties occurred in the Ship- ping Trade owing to dissatisfaction among the Chinese seamen who put forward a demand for an increase in wages which the ship- owners were disinclined to agree to. This resulted in a general strike of all classes of seamen and for some time paralysed the shipping of the port. The strike extended to many other branches of labour and intimidation of those willing to work was resorted to by certain unions Some inconvenience was caused to the European population by the house servants leaving their employ- ment. After several conferences had been held between the shipowners and the seamen's representatives a settlement was reached by which the conditions of the employment of seamen were put on a more satisfactory basis, and the strike which had lasted for nearly two months came to an end.
Tracle generally remained in a depressed state owing to the feeling of unrest which prevailed in the adjacent provinces of South China. Shipments of rice, in particular, which have been an important item in the trade of the Colony, were considerably reduced through facilities being opened up in Siam and Saigon for direct export to the United States of America.
Exchange during the year continued falling. The Dollar which on January 1st stood at 2. 74d., at the close of the year had fallen to 28. 23d.
The development of the Colony during the year still continued and the influx of capital from South China resulted in numerous sales of land for building purposes, and unduly inflated the value of property. So long as China remains in the present unsettled state it is to be expected that the Colony will be made the tem- porary home of many of the merchants of Canton and other parts of South China.
A serious case of piracy occurred on the 19th November on board the s.s. "Sui An" which runs between Hongkong and Macao. On her return journey from Macao a number of Chinese, who had embarked as passengers, held up the Steamer, killing two of the Indian Guarda and wounding the captain and several others. The steamer was taken to Bias Bay, in Chinese territory, where the pirates landed in junks which appeared to be waiting, taking with thom a quantity of loot. After they had left the steamer it was brought back to Hongkong by the First Officer.
During the year the Governor Sir Edward Stubbs, K.C.M.G., was away from the Colony from 15th June to 18th November during which time the Government was administered by Mr. Claud Severn, C..G.
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L-FINANCES.
The revenue for the year amounted to $22,201,005 being $5,014,805 more than the estimate and $4,562,933 more than the revenue for the previous year.
Compared with the returns for 1021 there were increases under all the heads except Rent of Government Property.
The expenditure amounted to a total of $13,553,00% inclusive of a sum of $3,575,635 spent on Public Works Extraordinary,
The detailed figures for 1922 are set out in the following statements:—
HEADS OF REVENUE.
Light Dures
Light Dues, Special Assessment -
Licences and litterual Revenne not otherwise
specified
$
C.
115,979.56 125,185.71
14,081,055.85
Fees of Court or Office, Payments for specific
purposes, and Reimbursements in Aid- Post Office
1,112,027.09
695,654.50
Kowloon-Canton Railway
710,295,75
Rent of Government Property, Laud, and
Houses
1,132,116.00
Interest
430,201.41
Miscellaneous Receipts
257,654.77
TUFAL, (Ordinary)-
Land Sales, (Premia on New Lenses!
·TOTAL
$10,569,201.24 2,721,803.57
$22,291,064381
The total expenditure brought to account amounted to $18,563,003 being $1,635,977 less than the estimate, and $2,823,351 more than the expenditure in 1921. Compared with the estimates there were increases under 13 heads as against 14 heads where there were decreases. The excess amounting to $1,099,859 under Miscel- laneous Services was due to:-
University
Transport of Government Servants Visit of H. R. H. Prince of Wales Expenses of Strike
Food Control Expenses
Loss on Subsidiary Coins
$
C.
200,000.00
119,891.97
127,105.10
59,394.37
55,371.08
393,818.26
ד.
$ 955,581.68
Military Expenditure exceeded the estimate by $355,200 dus
to increase in revenue. Imports and Exports Department shows a saving of $80,044 due to less purchase of Opium and Public Works Extraordinary was less by $3,035,064 than the amount estimated.
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