13
x in de
in Core
The present Supplementary Estimate
amounts to $631,658, and is for expenditure
under the same three Heads as last year,
Public Works, Public Works Recurrent, and
Public Works Extraordinary.
$
The 1933 Estimates were based on
= ls. 2d. The present rate is between
ls. 4 d. and 1s. 5d., and the rate since the
beginning of the year has been consistently
well above ls. 2d.
It must not be overlooked that the
payment of no less a sum than $500,000 has yet
to be made to the Admiralty as a last instalment
for the evacuation of the Naval Armament Depot
- see fourth paragraph of my minute of 15.12.32
x
on 92691/32. Payment was to have been made on
1.1.33, but is suspended, and may not now be
made until the Admiralty is in a position to
hand over, which may not be until 1936 (see para-
graph 4 of (20) on 92608/32). This matter is, however, still under consideration on 13810/33.
It will be remembered also that the Hong Kong
Government agreed to forego some prospective
revenue this year and in the future from the
light dues by making them payable on a sliding
scale dependent on the dollar exchange (see
correspondence on 92701/32).
prospective
It is not possible
to say what this loss of revenue will amount to.
The amount depends upon the height of the
exchange above $ = ls. Od.
The financial position of the Colony
remains satisfactory, as the figures quoted in
the despatch indicate. It must not, however,
be