3
3 Au Gr. Northerte &/o
despatch
1876
which is
the
being forwarded. regarding
Refers to
a
firing of
for
G
number
of years.
the Contribution.
Gov Carf
4
3216
Desp. refered to in (3) regarding
suggestion for
a
fited Contribution.
subject to re-assenment every 5 years
As a
The Governor's proposal is that the
present basis for assessment of the Hong Kong
Military Contribution should be abandoned and
that the Colonial Government should pay a fixed
contribution of $6,000,000 (or the cost of the
garrison if this should be less). The amount
to be reviewed at five year intervals.
safeguard against the possibility of a serious
decline in the value of the dollar the amount
of the contribution would be reviewed at once
if in any year the sterling value of this sum,
calculated at the average rate of exchange for
the year, should fall below £350,000.
I think there can be no doubt that
the present basis of assessment is thoroughly
unsatisfactory and there is no need to elaborate
the arguments for this, which are fully set out
in the despatch. Proposals have been made
previously for a different basis of assessment
and Sir C. Clementi's proposal in 1926 for
assessment on the rating valuation of the Colony
was