$618,120.12.
HONG KONG.
Revenue from Land Sales - 1890-1930.
24
The Statement of Assets and Liabilities for
1890 bears a footnote saying that "Premia on Land
Sales" amounted to $618,120.12 and that this amount
was included in the total Assets.
From this it is, I think, clear that the sum
given was a statistical amount and that it did not
form a separate fund apart from the other assets of
Hong Kong.
Total receipts
1891 1906
K
$5,016,987.25.
Total receipts
1907-1930 $20,229,620.96.
From 1891 the receipts from Land Sales appear
in the Abstract Account as a separate Head of
Revenue.
From 1891 to 1906 the Statement of Assets and
Liabilities included entries for such items as
"Arrears of Revenue" and "Money Orders due", i.e. it
included sums due to Government and owing by Govern-
ment; consequently the balance of the Surplus and
Deficit Account cannot be "proved" from the Revenue
and Expenditure figures each year.
During this
period, however, there is no trace of any separate
fund for Land Sales receipts.
From 1907 to 1930 the Surplus and Deficit
Account can be proved from the Revenue and Expenditure
and there is no doubt that the Land Sales receipts
Revenue
were brought to account as/and therefore passed into
as/and
the Surplus and Deficit Account, and not into any
separate Fund.
The Statement of Assets and Liabilities shows
no investments for Surplus Funds till 1919 and from
1919