Hong Kong Annual Administration Reports, 1841-1941
COLONIAL REPORTS.—ANNUAL,
The decrease of $58,857.76 under Land Sales is owing to the fact that one exceptionally large sale took place in 1892, while the decrease of $7,956.94 under Water Account is due to the same reason as that under Assessed Taxes.
Against these decreases there are to be set off various increases, of which the more important are: - Postage $9,897.74, and leased lands $20,982.66. The increase in the latter case is largely due to the cessation of the systematic defalcations by Alves, late clerk in the Treasury.
An increased number of subsidiary coins were disposed of, giving an increase of revenue under this sub-head of over $10,000, an exceptionally large amount having been got rid of towards the close of the year.
Expenditure.
The expenditure of the year, including that on Public Works Extraordinary, amounted to $2,258,839.52, a decrease of $83,997.74 as compared with the previous year; of the former sum $338,315.96 was charged to the new loan in respect of the works for which it was raised. The causes of the decrease are generally as follows: -
In December 1892 salaries and other charges, properly payable from the votes for the year, but in former years paid out of the votes for the following year, were disbursed, involving an extra expenditure of $78,190, and the total amount spent on Public Works Extraordinary in 1893 was only $355,144.95 as compared with $460,362.77 in 1892.
Against these decreases there are to be set off increases under the heads Pensions, Loan, and Military Contribution in consequence of the fall in the rate of exchange and, in the case of the loan charges, in consequence also of a new loan having been raised last year.
The increase and decrease under Public Works Recurrent and Miscellaneous Services, respectively, are due to the transference of certain items from the latter head to the former.
Assets and Liabilities.
The balance of assets over liabilities on the 31st December amounted to $1,489,023.54, including the unspent balance of the last loan.
Public Debt.
The debt has been increased from £200,000 to £400,000 by the raising of a further loan of £200,000 under Ordinance 2 of 1893, for the carrying out of the Extraordinary Public Works mentioned in the schedule thereto.