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Hong Kong Annual Administration Reports, 1841-1941
PAPERS RELATING TO
REPORT On the BLUE BOOK for 1888, presented to the Legislative Council by Command of His Excellency the Governor.
1.-TAXATION.
There have been no changes under this head.
2.-REVENUE AND EXPENDITURE.
The revenue amounted to $1,717,988.67, or excluding premiums from land sales to $1,557,300.03; and the expenditure amounted to $1,992,329.67, including extraordinary works; excluding these, to $1,461,459.64.
The revenue and expenditure for the past five years have been:-
Year. Revenue. Premiums from Ordinary Land. Expenditure. Extraordinary Expenditure, including Defensive Works. 1884 $1,173,071.48 $1,254,634.77 $340,763.62 1885 1,251,889.70 19,695.00 1,146,103.15 475,147.24 1886 1,367,977.74 66,658.50 1,195,236.81 825,624.84 1887 1,427,485.79 34,731.59 1,278,181.68 744,820.38 1888 1,557,300.03 160,688.64 1,461,459.64 530,870.033.-LOCAL REVENUES.
The Chinese inhabitants contributed in 1888, by voluntary assessment among themselves, to the pay of the district watchmen $4,094.78, and received from the Government a grant-in-aid of $2,000.00.
4.-ASSETS AND LIABILITIES.
On the 31st December 1888 the assets of the Colony exceeded its liabilities by $360,649.76.*
The surplus assets in:-
1884 were $729,562.02
1885 $427,692.42
In 1886 the liabilities exceeded the assets by $191,512.29
In 1887 the surplus assets were $631,374.08*
A loan of 200,000l. having been raised during 1887 to be paid off on the 1st of March 1907. To provide for the repayment of this loan a sinking fund of 7,072l. was established.