-
- 4.
-
here lies in the adjustment of Military contribution the
original estimate of 1933 being $5,832,271 and the revised
estimate $5,694,559. Part of this reduction is due to over
payment in respect of 1932 and part to certain concessions
in respect of revenue exempted from contribution of which
I shall say more at a later stage.
14
The main factor in the falling off of our ordinary
revenue lies of course in the general depression from which the
world at large has been suffering for some years past and
which is now hitting the Colony in earnest. The import
duties on liquor and tobacco for the first half of 1933
have been only $1,883,876 as against an estimated figure
for the same period of $2,950,000. Stamp duties are simi-
larly $1,111,731 as against $1,300,000. Opium revenue for
the half year stands at $643,030, instead of $1,250,000
but only a very small part of this fall is attributable
to the decreased means of the addicts. The bulk of the
loss is attributable to the new arrangement instituted on
the recommendation of the Bangkok Conference by which this Government's Monopoly draws its supplies of prepared opium
from the factory of the Straits Settlements Monopoly. The
Hong Kong addict does not like the Singapore brand. The
grounds of his dislike are somewhat obscure at any rate
for the moment and are being further explored; what is
clear is that he will not buy the opium that the Hong
Kong Government offers him. If this state of affairs
indicated a genuine step towards the liberation of the
addict from his addiction, it would not only not be a
subject for regret; it would be a matter for positive
congratulation. The Hong Kong Government abides by its